Highlights:
- Bitcoin intra-day price action points to a possible rally to $110k
- Top corporate investors doubling down on Bitcoin could drive momentum
- Rallying off current prices could see Bitcoin hit new highs in the short term
Bitcoin continues the range-bound trading that defined its price action for the past week. At the time of going to press, BTC was trading at $106,220, up by a marginal 0.42% in the day. However, Bitcoin’s trading volumes are up by 9% in the day, indicative of rising buyer interest in Bitcoin. Bitcoin’s intraday price action is mainly the result of a lack of action across the financial markets due to the prevailing macro environment.
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Bitcoin Investors Looking for Clarity From China-US Talks in London
One of the most significant macro issues is the trade war between the US and China. The markets have fallen into substantial uncertainty since the back-and-forth tariffs between the two countries started. This could soon end as the two countries head to London for more talks. If something positive comes out of the trade talks, it could trigger an inflow of liquidity into the financial markets. This includes Bitcoin, which outperforms other asset classes when strong liquidity flows into the markets.
BREAKING: US and China to hold trade talks in London.
Limitless traders are betting that tariffs will remain in the 25-40% range. pic.twitter.com/M6Srhrhk0d
— Limitless (@trylimitless) June 9, 2025
US Budget Reconciliation Bill Likely to Influence BTC Price Action
Bitcoin’s slow price action is also linked to the noise around President Trump’s One Big Beautiful Bill. The bill has already passed Congress and has attracted criticism, especially from influential voices like Elon Musk. Until there is clarity on whether the bill will pass the Senate, the markets, including Bitcoin, could continue trading in a narrow range in the short term.
In the long term, the bill’s passage could see more people gravitating towards Bitcoin. That’s because introducing significant tax cuts on corporations and individuals would mean that America may never be able to balance the books. This would make assets that protect against inflation, such as Bitcoin, attractive in the long term. On the other hand, if the ongoing pressure leads to its failure, the ensuing uncertainty could still benefit Bitcoin, which is increasingly becoming viewed as digital gold.
While the Trump administration chose to significantly increase the US national debt (One Big Beautiful Bill) investor Lyn Alden highlights rising concerns over this growing deficit.
She points out that the Federal Reserve is increasingly losing its grip on interest rate control,… pic.twitter.com/JYczbctSJf— Richard (@ricwe123) June 2, 2025
Bitcoin’s Role as Digital Gold Gaining Traction
The tag of Bitcoin as digital gold couldn’t be clearer than a recent move by a gold miner to announce that it would hold its reserves in BTC. Blue Bird Mining, the UK-based Gold mining company, announced that it would convert its gold reserves into Bitcoin. The move instantly attracted a positive reception from the markets, with the company’s shares surging by 63% in a day. It was an indicator that the market is more bullish on Bitcoin than gold as a long-term store of value, in an increasingly uncertain financial world.
NEW: 🇬🇧 UK-listed gold miner Bluebird Mining Ventures announces strategy to convert gold mining income into Bitcoin.
A gold mining company will become the first UK-listed company to implement a Strategic Bitcoin Treasury 🙌 pic.twitter.com/YSGdkSelKD
— Bitcoin News (@BitcoinNewsCom) June 6, 2025
Corporate Holders Double Down on Bitcoin
Bitcoin could also get a boost because corporations betting big on Bitcoin are doubling down on their holdings. One such company is Strategy, the American company that has now become synonymous with Bitcoin. Strategy has announced issuing a $1 billion stock offering to buy more Bitcoin. That’s a decisive vote of confidence from a company now among the world’s largest corporate holders of Bitcoin.
🚨 ALERT: STRATEGY BUY BITCOIN FOR $1B🚨
10 Jun they’ll SELL new $STRD shares (to buy #btc)
All indicators point to the BIGGEST rally of 2025… smart money is ready
Here's how to get ahead of BlackRock, Strategy, and all institutions 🧵👇 pic.twitter.com/W2PelwhZKp
— Dead In Sol (@deadinsol) June 7, 2025
Besides Strategy, Japan’s MetaPlanet is also ramping up its Bitcoin purchases. The company has announced a $5.4 billion financing plan aimed at helping it buy more Bitcoin. Such moves could inspire retail money to flow into Bitcoin at current prices and push it to new highs in the short to medium term.
NEWS: 🚀 Metaplanet launches Asia’s largest equity raise of $5.4 billion to fund Bitcoin purchases pic.twitter.com/x8dyBYOg3f
— Crypto Panth (@CryptoPanth) June 6, 2025
Technical Analysis – BTC Breaks Out Of Intra-day Range
Bitcoin is showing signs of an intra-day breakout after ranging between the $106,376 resistance and $105,164 support. If Bitcoin bulls sustain momentum, then $110k could be the next resistance in the short term.
On the other hand, if bears retake control, the price could either consolidate around $106,376, which is now supported or crash back to around $105,164. Of these two scenarios, a consolidation around $106,376 is more likely as investors await clarity in the macro environment.
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