Bitcoin Price Holds $106K as Bulls Eye Breakout, Bears Lurk Below

Bitcoin (BTC-USD) Holds $106K Amid Volatility, Diverging Signals, and Treasury Adoption

Price Action Narrows: Bitcoin Trades in Compressed Zone Between $106K–$108K

As of July 1, Bitcoin (BTC-USD) is trading at $106,537, with market capitalization at $2.11 trillion and 24-hour trading volume of $21.87 billion. Despite upward momentum stalling after the June high near $110,789, sellers have capped rallies near $108,000, forcing BTC into a contracting wedge defined by tight intraday pivots between $106,000 and $107,900. On the hourly chart, a descending channel has formed off the recent $108,800 high, with volume affirming lower highs and steady selling on red candles. There’s no panic — but there’s persistent distribution. Short positions are forming at minor bounces near $107,500, while bulls defend the $106,000 support zone.

4-Hour Chart Shows Post-Failure Consolidation With Eyes on $105K Floor

On the 4-hour BTC/USD chart, price behavior mirrors a classic failed breakout. After piercing $108,800, momentum fizzled, and now BTC consolidates around $106,300. Volume has tapered, candles have shrunk, and traders are left watching for range breaks. Bears are positioned to target $104,900–$105,300 if the floor cracks, while scalpers eye rebound setups near $106,000. Resistance at $108,000 and $108,980 looms as the profit ceiling for bullish reversals unless conviction and volume resurface. Technically, BTC is range-bound, and volatility compression precedes an inevitable breakout — direction TBD.

Daily Structure Shows Rising Uncertainty Despite Higher-Timeframe Support

On the daily chart, BTC remains locked in a consolidation band, with resistance near $110,000 and support at $98,240. Following the March-to-June rally, the pullback stalled shy of a full retracement. The recent bounce off $98K drew dip buyers, but sellers reloaded around $108K, where a bearish engulfing pattern has now formed. The structure suggests exhaustion, especially with RSI flatlining near 52, signaling balance, not trend.

Momentum indicators present mixed signals: Stochastic at 86 suggests overbought short-term, while CCI at 58, ADX at 12, and momentum at 4,462 show neither trend nor strength. MACD sits at 557, above the signal line but without conviction. The landscape is indecisive. Traders are tactically flexible, treating bounces as exits, not entries.

Moving Averages Maintain Long-Term Bullish Bias

Despite weak short-term action, Bitcoin’s moving averages confirm underlying strength. The 10-EMA at $106,607 issues a sell, but the 10-SMA at $106,367 offers a counter buy signal. More tellingly, the 20/30/50/100/200-period EMAs and SMAs all remain in firm buy mode. This is critical. It shows BTC’s broader trend remains upward, and if prices revisit $102,000–$103,000, these dynamic averages could serve as magnetic support zones. It’s not a breakdown — it’s tactical congestion.

Vanadi Coffee Emerges as Spain’s MicroStrategy with Bitcoin Treasury Bet

In a stunning pivot, Vanadi Coffee, a six-location café chain in Alicante, has now become Spain’s largest public BTC holder after acquiring 54 BTC valued at roughly €5.8 million. June’s buy tranche averaged €93,444 per coin. The company has committed to a treasury model mimicking MicroStrategy and Metaplanet, securing custody through Bit2Me.

Investors responded. Vanadi stock tripled on BME Growth, reversing a €3.3M loss in 2024 with a Bitcoin-first restructuring. The firm is now in talks with Alpha Blue Ocean for additional BTC-backed capital infusions. It’s a clear endorsement of BTC as corporate strategy — even from unlikely players. This narrative shift adds fundamental bullish depth to the BTC macro case.

Bitcoin Price Prediction Hinges on Breakout Levels: $109K or $104.8K?

Price is trapped below $108,980 and the 50-period EMA at $107,257, while bulls are attempting to defend $106,450. If price breaches $109,000, it could unlock upside toward $110,448 and possibly $111,944. However, a failure to defend support at $106,000 invites a retest of $104,840. With MACD in consolidation mode and volume stagnant, traders are reluctant to place big directional bets.

BTC Bull Token Raises $7.84M as Presale Nears $8.8M Hard Cap

Parallel to BTC’s stagnation, BTC Bull Token ($BTCBULL) has surged in presale activity. As of today, it’s raised $7,844,655, nearing the hard cap of $8,873,431. Currently priced at $0.002585, the token features:

• BTC-Pegged Airdrops

• Supply Burn Every $50K BTC Move

• APY: 55% with No Lockups

• Liquidity: Immediate

The total pool of 1.92B BTCBULL tokens is nearly allocated. With only ~$1 million left, investor FOMO is building. While BTC stagnates, altcoins tied to Bitcoin's performance are gaining attention from traders seeking leveraged BTC exposure.

Buy / Sell / Hold Verdict for BTC-USD Based on July 1 Data

• Buy: Long-term bias remains bullish as long as $102K–$103K holds. The moving average structure supports re-accumulation on dips.

• Hold: Near-term price action is range-bound. Wait for breakout confirmation above $109K.

• Sell: If $106K fails, expect a slide to $104.8K and potentially $100K. Bearish engulfing and volume fading argue for caution.

Bitcoin is no longer trending — it’s coiling. Traders are playing defense, not offense. Whether the next move is a rally to $111,000 or a flush to $98,000 depends on how the crowd reacts to pressure. But with corporate balance sheets in Europe now backing BTC and derivative tokens capturing capital, the stakes just got higher.

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