Analysis: Bitcoin Price Stabilizes, but Unlikely to Reach New Highs Before July

Analysis indicates that Bitcoin has rebounded by 10% since June 5, but the probability of reaching a new high before July is only 16%. On-chain data shows that open interest continues to decline, with clear signs of liquidation exhaustion, suggesting the market is “flushing out overleveraged long positions.” If the $108,000 resistance level is breached, BTC is expected to enter a price discovery phase. Analysts believe that the Federal Reserve maintaining interest rates and the MVRV returning to its average may be positive signals.