Bitcoin Holds Key Levels as Crypto Market Faces Correction

Bitcoin traded near $107,700 on June 12, 2025, after a volatile session that saw most major cryptocurrencies lose ground.

Market data from TradingView shows Bitcoin’s price dropped 0.86% over the previous 24 hours, with the daily chart revealing a pullback from resistance at $111,264. The 4-hour chart confirms this downward move, with Bitcoin testing the $107,385 support.

Ethereum, Solana, XRP, and Litecoin also posted losses. Ethereum fell 1.33% to $2,759, while Solana lost 3.22% to $159.33. XRP and Litecoin declined 1.78% and 2.12%, respectively.

Trading volumes remained high, with Bitcoin’s 24-hour volume at $712.8 million, indicating active trading despite the correction. Technical indicators highlight a market in consolidation.

On the daily chart, Bitcoin trades above its 50-day and 200-day moving averages, which act as support. The Ichimoku Cloud remains green, suggesting an underlying bullish trend, but the price sits near the cloud’s upper boundary, pointing to possible short-term weakness.

The MACD histogram has flattened, and the RSI stands at 55.74, neither overbought nor oversold. The 4-hour chart shows Bitcoin retreating from recent highs. The MACD has turned negative, and the RSI dropped to 47.96, indicating a shift toward bearish momentum.

Bitcoin now tests the 200-period exponential moving average, which serves as a near-term support. If this level fails, further declines could follow, with $106,000 and $105,000 as the next significant supports.

Altcoins mirrored Bitcoin’s movement, with most recording losses between 2% and 6%. A few exceptions stood out: HOME gained 13.17%, RESOLV rose 10.94%, and AITECH advanced 8.82%.

However, these gains did not offset the broader market’s weakness. Notably, HMSTR and INIT suffered steep declines of 27.06% and 12.72%, respectively.

The correction follows a period of optimism driven by strong inflows into Ethereum exchange-traded funds, which reached $240.3 million on June 11.

However, Bitcoin ETFs saw continued outflows, reflecting investor caution amid uncertain U.S. monetary policy and regulatory developments.

Market makers and analysts now focus on upcoming decisions regarding potential ETFs for Solana, Litecoin, and XRP, which could shift sentiment if approvals materialize. The current technical setup suggests the market is pausing after a strong rally.

Bitcoin’s ability to hold above $107,000 will determine whether the correction deepens or buyers regain control. Traders watch for decisive moves above $109,000 to signal renewed strength or a break below $106,000 to confirm further downside.

In summary, the crypto market faces a test of resilience as it digests recent gains. Bitcoin’s performance at key technical levels will shape the next trend, while institutional flows and regulatory news remain central to the broader outlook.