Key Notes
- Bitcoin worth retraced under $105,000 on June 18, as bulls struggled to take care of early momentum from European buying and selling hours.
- Miner wallets have offloaded 30,000 BTC since Could 27, in line with IntoTheBlock information.
- BTC 24-hour peak presses in opposition to the Keltner channels mid-band confirming main short-term resistance on the $105,800 degree.
Bitcoin worth retraced in direction of $104,800 in early US buying and selling down 2% from the 24-hour peak of $105,500. On-chain information tendencies present energetic promoting stress from miners continues to dampen BTC rebound prospects.
Bitcoin Faces Resistance at $105,500 as Miners offload 30,000 BTC
Bitcoin
BTC
$104 347
24h volatility:
0.5%
Market cap:
$2.07 T
Vol. 24h:
$18.09 B
worth motion on Wednesday displays rising warning as traders react to escalating tensions within the Center East. Amid a constructive begin within the European buying and selling session, Bitcoin initially gained 0.5% rising to a each day timeframe peak of $105,500.
Nevertheless as US buying and selling opened, BTC noticed a flurry of sell-orders, with worth retracing in direction of $104,500 at press time, according to Binance buying and selling information.
Whereas short-term merchants preserve a cautious outlook, a more in-depth have a look at on-chain metrics reveals energetic promoting frenzy amongst Bitcoin miners.
Validating this stance, Miner reserves’ data from Sentora’s IntoTheBlock reveals modifications in balances held by acknowledged miner wallets and mining swimming pools over the previous month.
Bitcoin miners reserves | June 2025 | Supply: IntoTheBlock
As seen above, BTC miners held an mixture stability of 1.94 million BTC as of Could 27. That determine has declined over the past three weeks, hitting 1.91 million BTC at press time. This means that the Bitcoin miners have offloaded 30,000 BTC price roughly $3.2 billion inside the final 20 days.
Primarily based on recent news stories, the rising geopolitical tensions has sparked expectations of upper power prices and mining problem surge —prompting the present promoting frenzy amongst miners.
Regardless of world demand from institutional investors, miners offload newly-mined BTC in the marketplace, successfully inflating short-term market provide, exerting downward stress on costs. This may increasingly clarify why BTC worth has didn’t advance after briefly retaking the $105,000 degree earlier on Wednesday.
BTC Worth Forecast: KC Indicator Nullfies $110K Rebound Prospect
The each day chart reveals BTC hitting intraday resistance on the midline of the Keltner Channel (KC) at the moment close to $105,800, reinforcing this degree as a short-term ceiling.
Bitcoin worth forecast | June 18, 2025 | Supply: TradingView
With miner wallets inflating short-term provide by $3.2 billion within the final 20 days, additional outflows might additional compound the draw back dangers.
Failure to reclaim $105,800 will increase the likelihood of a slide towards $100,020, the KC decrease band. A each day shut under that help might expose BTC to deeper retracement towards $96,000–$94,000.
On the upside, a breakout above $105,800 may open the door to a retest of $111,636, on the KC higher band, which additionally aligns with the June native high. Nevertheless, BTC markets would require a sustained quantity uptick to gasoline this transfer.
As BTC Struggles for Momentum, Solaxy ($SOLX) Attracts Investor Consideration
Whereas Bitcoin battles to carry above the $104,000 mark amid mounting resistance and miner sell-offs, investor focus is shifting towards rising tasks with high-growth potential like Solaxy ($SOLX).
Solaxy is a next-gen Layer 2 community purpose-built to supercharge Solana’s ecosystem.
Solaxy presale
Solaxy tackles Solana’s recurring congestion by offloading a lot of the transaction quantity off-chain, boosting effectivity and throughput — all whereas sustaining the base-layer safety and decentralization Solana affords.
At present priced at $0.001766, Solaxy has already raised over $52.96 million in its presale, which is now getting into its remaining section. Early patrons also can stake $SOLX tokens at a formidable 79% APY.
To purchase $SOLX on the present worth of $0.001766, proceed to the official Solaxy website and join a supported pockets like Best Wallet.
Disclaimer: Coinspeaker is dedicated to offering unbiased and clear reporting. This text goals to ship correct and well timed data however shouldn’t be taken as monetary or funding recommendation. Since market situations can change quickly, we encourage you to confirm data by yourself and seek the advice of with an expert earlier than making any selections based mostly on this content material.
Ibrahim Ajibade is a seasoned analysis analyst with a background in supporting numerous Web3 startups and monetary organizations. He earned his undergraduate diploma in Economics and is at the moment learning for a Grasp’s in Blockchain and Distributed Ledger Applied sciences on the College of Malta.
