Bitcoin bulls regained some strength on Monday after a week of surprises pushed the flagship crypto to monthly lows near $100k.

Improving economic signals helped lift sentiment across the board, driving the total cryptocurrency market cap up by roughly 2.3% to $3.47 trillion.

The Crypto Fear and Greed Index also ticked up by 1 point, staying within neutral territory.

Likewise, altcoins began a recovery rally, with some managing to erase a portion of last week’s losses.

When writing, Bitcoin had climbed from intraday lows near $104,785 to a high of $107,715, tracking broader market gains as geopolitical and macroeconomic pressures eased. 

Today’s recovery followed a week of volatility triggered by Middle East tensions, with investors now viewing the Israel–Iran conflict as regionally contained.

While the missile attacks continue, analysts view the crisis as contained and not likely to escalate into a broader conflict involving other global powers.

Bitcoin rose alongside traditional markets with Dow Jones contracts adding 225 points, and Nasdaq 100 futures climbed by 175 points.

Crude oil, often a barometer of geopolitical stress, dropped over 1% on the day.

Sentiment was further supported by continued signs of institutional accumulation. MicroStrategy added 10,100 BTC last week, bringing its total holdings to 592,100 coins. 

Japan-based Metaplanet also surpassed the 10,000 BTC threshold, while Trump Media and GameStop have also eyed Bitcoin buys.

Adding to the momentum, Trump Media filed with the SEC to launch a new exchange-traded fund tracking both Bitcoin and Ethereum.

According to the filing, the ETF will allocate 75% of its capital to Bitcoin and 25% to Ethereum, marking another push by the Trump-affiliated firm into the crypto sector.

Bitcoin traders are hopeful that the ETF, if approved, could unlock new inflows from politically aligned retail investors and institutions seeking regulatory clarity, reinforcing the current uptrend.

Investors are also positioning ahead of the US Federal Reserve’s upcoming interest rate decision on Wednesday.

Following softer-than-expected inflation data last week, markets are anticipating a dovish stance, which would be seen as supportive for Bitcoin and other risk assets.

Bitcoin bulls were attempting to reclaim the $108,000 level on Monday, a key zone that has acted as both support and resistance during past attempts to revisit all-time highs.

Despite recent volatility, many traders remain confident that Bitcoin is still in a broader uptrend.

Much of this confidence stems from analysing Bitcoin from a technical standpoint. On the charts, several bullish patterns have formed.

Firstly, Bitcoin has formed an Ascending Broadening Wedge on the weekly chart, a bullish pattern that has appeared repeatedly since the 2023 bull cycle began.

According to crypto analyst Alan Tardigrade, if this recurring structure plays out as in the history books, BTC could be looking at an upside rally as high as $170,000.

BTC/USD – 1 week chart. Source: Trader Tardigrade

Another signal is the formation of a golden cross on the daily chart, where the 50-day simple moving average crosses above the 200-day.

Historically, this pattern has preceded strong rallies, with Bitcoin rising 49%, 125%, and 68% in similar setups since 2023.

“If $BTC experiences its worst and best gains from this point, it could reach $152k and $229k,” 

Trader Tardigrade said.

Some even went as far as saying that the Bitcoin bull run is yet to begin.

Addressing over 225,000 followers, analyst Crypto General said Bitcoin was “holding strong” amidst macro jitters and could be gearing up for a rally of over 20% from current levels before a “true bull season” begins.

“Everyone was bearish till below 100k and I was always saying that it is still strong and going up. 130k is the next level and once BTC reaches only then the official Bull Season will start,” the analyst wrote.

BTC/USDT 1-day chart.

Over the short term, crypto analytics platform Wyckoff Analytics expects a potential retest of all-time highs.

In a post shared Monday, the firm pointed to Bitcoin’s successful rebound from the $100,000 region after validating a double bottom pattern, a structure typically associated with trend reversals.

The formation suggests that buyers stepped in at key support, helping the market recover swiftly from recent lows.

BTC/USDT 1-day price chart. Source: Wyckoff Analytics

If momentum continues and Bitcoin flips the $108,000 level into support, the setup could pave the way for a renewed attempt toward the previous all-time highs near $115,000 and potentially beyond.

As of writing, Bitcoin was trading at $107,525, up nearly 2%, with Coinglass data showing liquidity bands forming around the $108,000 mark.

According to the 24-hour Binance BTC/USDT liquidation heatmap, a dense cluster of liquidation levels is building between $108,000 and $111,000. 

BTC/USDT 24-hour liquidation heatmap. Source: Coinglass.

These areas, where leveraged short positions are likely concentrated, often act as price magnets, attracting upward movement as market makers seek to trigger stop-losses and liquidate overleveraged positions.

Over the past 24 hours, the total altcoin market cap rose 4.5% to $1.37 trillion while the Altcoin Index reading rose 3 points to 28, indicating a slight recovery in the performance of the top 100 altcoins against Bitcoin.

Ethereum (ETH), the largest altcoin by market cap was rose 3.5% over the day, exchanging hands slightly above the $2,600 level with a market cap of over $318 million, while other large-cap altcoins like XRP (XRP), Solana (SOL), Tron (TRX) and Cardano (ADA) recorded gains ranging between 2-6%.

Hyperliquid’s HYPE token stood as the leading gainer among the top 99 altcoins by market cap on June 16, with double-digit gains of 10.7%, while Kaspa (KAS) and SPX6900 (SPX) followed with 9.7% and 9.6%, respectively.

Source: CoinMarketCap

Hyperliquid (HYPE) experienced notable traction today, driven by rapid expansion within its Layer-1 ecosystem.

The network’s total value locked has surpassed $2.5 billion, reflecting an increase of over 80% in the past 30 days. 

Other contributing factors include a sharp rise in stablecoin supply and Hyperliquid’s growing dominance in the derivatives market, both of which have reinforced investor interest in the token.

Kaspa (KAS) looks like it rallied along with the rest of the crypto market today, riding the wave of hype after Bitcoin’s bounce back.

Meanwhile, SPX6900 (SPX) gains appear to be primarily driven by a notable increase in whale accumulation.

Additionally, a sharp rise in open interest indicates growing engagement from traders, further supporting the upward inflows into the token.

The post Crypto prices today: Bitcoin rebounds after a volatile week, altcoin market up 4.5% appeared first on Invezz

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