Report: BTC Consolidation Sparks Market Tension

The latest market report indicates that Bitcoin (last week) showed a strong rebound at the beginning of this week, rising 4.7% from the weekly opening price and briefly retesting its previous all-time high of $109,590. However, after Israel’s unexpected attack on Iran on June 13 triggered a global market sell-off, optimism was quickly replaced by risk aversion. Bitcoin gave back most of its early gains, dropping 7.33%, and closed the week lower as rising oil prices and macroeconomic uncertainty severely impacted investor sentiment. This event highlights that even strong trends can quickly be derailed by external shocks, especially in a heated market.
Beneath the surface, traders’ behavior reveals mounting pressure. Bitcoin’s net buying volume plunged to -$197 million (see chart below), the lowest level since June 6, indicating that sellers have taken control of the market and are offloading BTC aggressively at market prices. However, this sell-off, coupled with a surge in liquidations, resembles previous capitulation-style sell-offs—events that often mark a local market bottom. If Bitcoin can hold the $102,000 to $103,000 range, it may suggest that selling pressure is being absorbed and the market could be poised for a recovery—provided that geopolitical risks do not escalate further.