Bitcoin price dips under $104K as Russia-Ukraine woes rile US stocks
The post Bitcoin price dips under $104K as Russia-Ukraine woes rile US stocks appeared on BitcoinEthereumNews.com.
Key points: Bitcoin stays near its old all-time highs from late 2024 as US stocks digest increased tensions in Europe. Traders shrug off market nerves after BTC/USD drops 8% versus its latest record of $112,000. June may end up flat without another market catalyst. Bitcoin (BTC) sought a retest of 2024 highs at the June 2 Wall Street open as Russia-Ukraine tensions returned to the market. BTC/USD 1-hour chart. Source: Cointelegraph/TradingView Bitcoin wobbles as bulls fight for 2024 peak Data from Cointelegraph Markets Pro and TradingView showed BTC/USD falling below $104,000. US stocks opened cautiously amid expectations of geopolitical volatility to come. Commenting, trading resource The Kobeissi Letter underscored the uncertainty of the current situation. “This is effectively the market pricing-out the Russia-Ukraine peace deal that President Trump has been working on for 3+ months,” it wrote in part of ongoing X coverage, referring to US President Donald Trump’s aims to halt the conflict. “However, we have yet to receive a single comment from the US or President Trump. Clearly, something is going on behind the scenes. How will the US respond?” S&P 500 1-hour chart. Source: Cointelegraph/TradingView Crypto voices had similar concerns, with independent analyst Filbfilb predicting an undesirable outcome for risk assets. “Markets look like they are struggling to me, with gold looking strong & tensions with Russia escalating lead me to suspect selling today on the cards & for the start of June,” he told X followers on the day. Filbfilb predicted that should stocks find fresh bullish momentum, Bitcoin would “probably outperform” as a result, adding that BTC “still looks bullish” long term. Some traders shared that view, among them popular trader Jelle, who implied that reactions to the current retest of local lows were overly bearish. #Bitcoin still hovering on top of local support. Timeline…
Filed under: News - @ June 3, 2025 8:25 am