From Cointelegraph

June 17, 2025 5:56:00 pm:

Bitcoin dropped to $103,300 as traders reduced risk before the FOMC decision. Technical data suggests a bounce between $102,000 and $104,000. Mid-term holders saw significant profits. The decline aligns with seasonal weakness and onchain network cooling, with over $434 million in BTC futures liquidated due to leverage-driven moves.

Despite steady spot demand from US investors, the Coinbase Premium Index remained positive. Profit-taking by mid-cycle holders resulted in $904 million in realized profits on Monday, marking a shift in market dynamics. Long-term holders are refraining from significant spending, presenting a bullish pattern.

A healthy MVRV Z-score and positive CDD momentum indicate selective profit-taking rather than panic, potentially leading to a $130,000 price target by the end of Q2. From a technical standpoint, Bitcoin may bottom between $102,000 and $104,000, with Bollinger Bands compressing and signaling a potential bullish mean reversion toward $112,000.

Data from Alphractal highlights $98,300 as a key support level where Short-Term Holders are in profit. Breaching this level could lead to a deeper correction. As Bitcoin remains above this threshold, the market is considered bullish. This article does not provide investment advice, and readers should conduct their own research.

Read more at Cointelegraph: Bitcoin Trades Near $102K Support as FOMC Triggers Selling