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Bitcoin (BTC) is showing renewed signs of strength, with analysts closely watching a critical resistance level that could trigger the next leg higher.
As of Monday, June 9, 2025, Bitcoin is trading at $106,830, up 1.6% over the past 24 hours, according to the latest market data. Daily trading volume currently stands at $39.45 billion, a healthy 9.67% increase, reflecting building interest around a potential breakout.
Crypto strategist Michaël van de Poppe (@CryptoMichNL) highlighted the importance of the $106,500 level, calling it a key technical barrier that BTC must clear to reignite its uptrend.
“I assume that we’ll be starting to see a strong rally the moment that Bitcoin breaks through the crucial barrier of $106,500,” van de Poppe commented.
In a recent chart update, van de Poppe explained that this level previously acted as strong support after Bitcoin’s first all-time high of the cycle. However, after multiple failed breakout attempts in recent sessions, it has flipped into resistance.
“Break above this level is vital as this was the support level after the first ATH,” he wrote. “As you can see, multiple tests have been done to break through it and sellers have been winning. The next time the test happens, we’re likely going to see a strong breakout resulting in the next uptrend and new ATHs.”
Classic Bitcoin support and resistance
The pattern reflects classic technical dynamics, where former support becomes resistance. A decisive move through $106,500 to perhaps turning $107,000 into support could signal renewed momentum for Bitcoin, with bulls eyeing new highs in the coming weeks.
For now, traders and investors are watching closely as BTC hovers just below this pivotal level, poised for what could be a crucial breakout attempt.
Featured image via Shutterstock
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