Analysis: Bitcoin price stabilizes, but it is unlikely to hit a new high before July

Odaily Planet Daily News Analysis points out that Bitcoin has rebounded 10% since June 5, but the probability of breaking new highs before July is only 16%. On-chain data shows that open interest continues to decrease, and there are obvious signs of liquidation exhaustion. The market is "cleaning up longs". If it breaks through the $108,000 resistance level, BTC is expected to enter the price discovery stage. Analysts believe that the Fed's stabilization of interest rates and MVRV's return to the mean may be positive signals. (Cointelegraph)