The post $104,000 BTC in Sight? Bitcoin Braces for Short-Term Test This Week appeared on BitcoinEthereumNews.com.

As the crypto market prepares for another key week, Bitcoin finds itself at a critical juncture. Bitcoin was trading up 1.41% in the last 24 hours to $106,685, after reaching a high of $106,958 in the early Monday trading session. Following a sell-off in the past week that reached lows of $100,377, Bitcoin is set for its fourth straight day of gains. Near-term resistance is building toward $107,000 as Bitcoin dropped three days in a row last week from a high of $106,901 on June 3. Bitcoin’s price rise also paused at the $106,958 high early Monday. In a recent tweet, the Swissblock official X account highlighted three potential scenarios for Bitcoin this week. Bitcoin, what is the plan? 🔹Inflation data in the week ahead could unleash volatility.🔹Bulls are slowly rebuilding structure and regrouping, eager to flip the game.🔹First steps are in, but a short-term test of the lower range ($104k) looks likely. Stay sharp. pic.twitter.com/PI6HBSVyhL — Swissblock (@swissblock__) June 9, 2025 First, inflation data in the week ahead could unleash volatility. Inflation data is expected to be a key topic later in the week: the latest consumer price index is due out on Wednesday, followed by the producer price index on Friday. You Might Also Like With inflation data set to drop in the coming days, all eyes are on how Bitcoin might respond — and whether bulls can regain control or if a short-term dip is on the horizon. A hotter-than-expected print could trigger concerns over monetary tightening, while softer data may offer room for risk assets to rally. Second, the bulls are slowly rebuilding structure and regrouping, eager to flip the game. While market sentiment remains cautious, early indications suggest bulls are preparing to flip the script following recent weakness. Bitcoin faces short-term test While bulls are…

---

Filed under: News - @ June 9, 2025 12:21 pm