Bitcoin Struggles Near $110K as Analysts Warn of Soft Reversal

Top analysts are pointing to weakening momentum and rising short pressure, even as the macro backdrop remains volatile.

Van de Poppe: Correction Likely After Rejection at $110K

According to Michaël van de Poppe, Bitcoin failed to break cleanly above the critical $110,000 zone, triggering signs of a pullback. In a June 12 tweet, he suggested that some correction is now likely, particularly amid growing geopolitical uncertainty involving U.S.-Iran tensions—factors which have coincided with a rally in gold.

Still, van de Poppe remains cautiously optimistic: “As long as BTC stays above $106,000, then there’s nothing to worry.” His shared chart indicates that BTC is entering a key demand zone, with the $106K level acting as critical short-term support.

Axel Adler Jr.: Futures Data Signals Reversal Pressure

On the derivatives side, Axel Adler Jr. pointed to declining open interest and aggressive short volume as signs of a potential “soft reversal point.” He noted that while funding rates remain positive, the shift from long to short positioning indicates fading conviction among bulls.

“In the current hour, there is a clear closing of long positions supported by aggressive short volume,” Adler explained. His futures chart shows clear dominance of short builds and long liquidation events, suggesting that Bitcoin may face consolidation below $108,000 in the near term.

Market Outlook: Key Levels to Watch

Immediate Resistance: $110,000 remains the ceiling to break for bullish continuation.
Key Support: $106,000 is the level analysts agree must hold to avoid deeper correction. Futures Sentiment: A drop in open interest alongside rising short positions typically precedes either a cooldown phase or broader repositioning.

While longer-term sentiment remains constructive, analysts are urging traders to stay cautious in the short term as volatility ticks up and BTC consolidates within a tightening range.

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