Bitcoin Holds Steady Above $105K Despite Lower Exchange Inflows
Bitcoin’s price remains resilient above $105,000 despite increased market volatility stemming from the Israel-Iran conflict and broader macroeconomic uncertainties. While daily inflows of USDT and USDC into centralized exchanges (CEXs) have significantly decreased to around $70 billion in June 2025, down from a peak of $131 billion in December 2024, this slowdown doesn’t necessarily signal a bearish trend. Analyst Axel Adler highlights this drop in liquidity, suggesting a period of consolidation rather than a loss of bullish momentum. The current price action shows Bitcoin consolidating between $103,600 and $109,300 support and resistance levels. The 12-hour chart indicates buyers are stepping in near dynamic support levels, with a bullish crossover of the 50-day and 100-day SMAs suggesting short-term upward potential. However, a decisive break above the $109,300 resistance is needed to confirm continued bullish momentum and potentially retest the all-time high near $112,000. Conversely, falling below the $103,600 support could trigger a further retracement. Despite the lower exchange inflows and geopolitical risks, Bitcoin’s sustained price above $105,000 suggests that long-term holders remain confident, indicating a potential base-building phase before a further price breakout. The overall market sentiment appears cautious but not overtly bearish, with many analysts remaining optimistic about Bitcoin’s future price trajectory. The current situation presents a complex interplay of factors, leaving the market in a waiting phase before the next significant price movement.
