Technical Analysis

Bitcoin returned to gains on Friday, trading at $63,550, up 1.6% on the day and 1.4% over the week. The rebound followed Donald Trump's comments that the U.S. was close to a deal with Iran and that he had "ended the war with Iran today." Major tokens moved higher alongside BTC, while traders watched for whether a formal agreement in Europe this weekend materializes.

Major cryptocurrencies rose on Thursday as markets reacted after President Donald Trump called off "scheduled" strikes on Iran and said talks on a deal were approved by Iran's top leadership. Bitcoin climbed to an intraday high of $63,850, while data showed more than $260 million in liquidations over the past 24 hours and the total crypto market cap at $2.17 trillion.

On June 12, Dogecoin hovered near $0.085 after a sharp drop that broke a February uptrend line, while buyers defended the $0.08 area and the $0.10 zone turned into key resistance. Shiba Inu remained weak below major technical levels as traders watched whether current support can hold. Toncoin steadied after sliding from May highs into the $1.50–$1.55 range, and Ethereum showed early signs of consolidation as bearish momentum appeared to ease.

Analyst Benjamin Cowen argues Bitcoin's four-year cycle remains intact, saying the current midterm-year drawdown closely matches past patterns. On-chain observers highlight BTC trading near the 200-week MA Quantile, while CryptoQuant warns price could revisit the realized price around $53.5K as demand weakened sharply. BTC was around $63K at the time of writing after retesting its February low last week.

Crypto trading activity across major non-stablecoin assets has slipped to levels last seen in 2024, according to Santiment's June 11 post on X. CoinGecko data shows Bitcoin's 24-hour volume at about $30 billion, down almost 20% day over day, while Ethereum fell 1.40% and BNB dropped 10%. Santiment said the pullback in participation can sometimes precede a relief rally if confidence and inflows return.

A U.S. government-linked wallet moved 98,590 LINK (about $768,000) to Coinbase Prime, reviving concerns about possible sell-side distribution even as LINK held support. LINK was trading near $7.78 after bouncing from around $7.34, while Binance positioning stayed long-heavy with a 2.61 long/short ratio and 72.31% of accounts long. Shorts absorbed most liquidation pressure in the latest session, with roughly $57,270 in short liquidations versus about $5,040 for longs.

Bitcoin moved above $63,600 on 11 June 2026 after President Donald Trump said in the Oval Office that the U.S. had reached a settlement with Iran, pending "finalization of documents." The total crypto market cap rose to $2.18T (+2.68%), while $361.18M in derivatives positions were liquidated over 24 hours, led by $198.31M in shorts.

Grok AI, described as Elon Musk's model, flags Bitcoin's more-than-50% drawdown as an accumulation setup and projects $150,000 to $225,000 by the end of 2026. With BTC around $62,800–$62,857, the forecast implies a 2.5x to 3.5x move while the analysis highlights support at $60,000 and the $55,000 to $70,000 range as pivotal.

Two crypto analysts argue Bitcoin remains in a bear market and may be in its final bearish phase. One expects the cycle to potentially bottom between $47,000 and $51,000 around October 2026, while another sees a possible drop to $54,000 next week and a deeper low near $47,000 by July 2026. Both forecasts frame the period as marked by weak sentiment and choppy price action.

Market analyst Shanaka Anslem Perera said Bitcoin has moved within 9% of its realized price near $53,600, a level he argues has historically aligned with bear-market endings. He contends the latest decline lacked classic capitulation, citing 187,000 BTC sold at a loss last week versus 1.2 million BTC during the 2022 washout, while demand fell by 652,000 BTC. Perera also pointed to negative spot Bitcoin ETF flows and said steady long-term holder behavior could still support a bullish interpretation.