Revitalized Bitcoin Momentum: A New Outlook for June

As the cryptocurrency market continues to evolve, Bitcoin (BTC) appears poised for another significant surge in June, driven by mounting questions from U.S. investors and a noticeable decline in selling pressure from both short-term and long-term holders.

Market Sentiment Strengthens with Coinbase Top Charge Index

Over the past month, the Coinbase Top Charge Index (CPI), which tracks the price disparity between Bitcoin on Coinbase and other major exchanges like Binance, has sustained a steady upward trend-its longest streak in 2025. This persistent high charge indicates robust buying interest from institutional and retail investors based in the United States, reflecting a growing confidence in the market.

Institutional Activity and Market Dynamics

Crypto analyst Burak Kesmeci highlights that Coinbase experienced an outflow of approximately 8,742 BTC on May 26, marking the third-largest withdrawal in the past month. Such significant outflows often precede or follow major institutional moves, such as ETF inflows or corporate Bitcoin purchases, suggesting active institutional engagement.

Meanwhile, Bitcoin researcher Axel Adler Jr. emphasizes that current market conditions remain resilient enough to sustain the ongoing bullish trend without major disruptions. He points to the Short-Term Holder SOPR (Spent Output Profit Ratio), which recently hit a local high, indicating that investors holding BTC for less than 155 days are realizing profits. However, the current levels are still below those seen during previous peak markets, implying that euphoria has yet to fully take hold.

Supporting these observations, data from CryptoQuant shows decreased inflows from both long-term and short-term holders on Binance. During previous downturns in August 2024 and amid tariff-related fears in April, inflows exceeded 12,000 BTC and 14,000 BTC respectively. The current inflows, around 8,000 BTC, are comparatively modest, reflecting a calmer market sentiment and less aggressive selling pressure.

Technical Analysis: Chart Patterns and Price Targets

From a technical perspective, Bitcoin is currently trading within a descending triangle pattern, which often precedes a bullish breakout. The key resistance zone is around $106,000 to $104,000, a critical area where traders are closely watching for potential reversals. A breakout above this resistance could propel Bitcoin toward a target of approximately $118,000 in the near future.

On the hourly chart, a notable bullish divergence is emerging between the price and the Relative Strength Index (RSI). While Bitcoin has formed lower lows, the RSI has been trending higher, signaling waning bearish momentum and the possibility of a bullish reversal.

If Bitcoin dips temporarily below the trendline to around $106,000 and then rebounds sharply, it would confirm the bullish divergence and set the stage for a breakout toward the $118,000 mark. Such a move would align with the current technical signals and market sentiment.

Market Outlook and Future Potential

The current market environment suggests that Bitcoin is on the cusp of a significant upward move, with technical indicators and institutional activity supporting a bullish outlook. If the pattern plays out as anticipated, reaching the $118,000 target could be within reach by June, potentially marking a new milestone for the cryptocurrency.

It’s important to note that while these signals are promising, market conditions can change rapidly. Investors should remain cautious and conduct thorough research before making any trading decisions.

Disclaimer: This analysis does not constitute financial advice. All investments carry risks, and individuals should perform their own due diligence before engaging in trading activities.