From Cointelegraph

June 8, 2025 5:48 am:

Bitcoin is currently undergoing a support retest with increased trader bets before the weekly candle close. Volatility is expected, and $100,000 remains a possible target. The price held at $105,500 towards the weekly close. Liquidation risk is rising as Bitcoin coiled at $105,000, inspiring traders to bet on upside continuation.

Bitcoin’s price action has achieved a daily close above its 10-day simple moving average, invalidating the bear case. Trader Cas Abbe predicts a magnet-style move based on order book liquidity, signaling a potential upside move. Negative funding rates indicate big short positions appearing, hinting at a possible move above $109K-$110K.

Some traders foresee further support retests before a potential upside move. Trader CrypNuevo sees $100,000 as a strong psychological support level to build long positions. Rekt Capital describes the support retest after May’s all-time highs as “successful,” questioning if Bitcoin can confirm this retest with a weekly close above $104,400 for the fourth week in a row.

Read more at Cointelegraph: A major Bitcoin short squeeze could happen if BTC price volatility returns