From Cointelegraph

June 9, 2025 4:28 pm:

Bitcoin rose 3.5% to near $108,500 from June 7 to June 9, but professional traders remain cautious due to macroeconomic tensions and stock market correlation. Some analysts predict a $150,000 rally with a $4 trillion debt ceiling increase. Bitcoin’s 2-month futures premium is stable at 5%. Correlation with S&P 500 is at 82%.

The recent price increase hasn’t boosted trader confidence, with futures premiums still at a neutral 5%. The market foundation isn’t reliant on leveraged speculation, but if recession fears linger, Bitcoin may struggle to stay above $110,000. Its 82% correlation with the S&P 500 suggests it’s seen as a risk-on asset.

Investor concerns have grown due to past US trade war effects on various assets, including Bitcoin. Despite being designed for financial uncertainty, Bitcoin may struggle if confidence in the US government weakens. The long-to-short margin ratio at OKX favors long positions, suggesting confidence in Bitcoin’s stability.

If investor confidence in US Treasury weakens, capital may flow out of government bonds, potentially boosting Bitcoin past $150,000. However, as long as the US dollar remains the world’s reserve currency, Bitcoin’s price may face downward pressure, especially in a confirmed recession. Global trade war concerns could limit its short-term growth.

Read more at CoinTelegraph: Bitcoin price all-time high hindered by macroeconomic fears