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June Jitters: Bitcoin Dips, Scandals Hit, Musk and Saylor Stir Markets

From bear flag breakdowns to Silk Road intrigue and global crackdowns, Bitcoin and crypto markets are under pressure. But the bulls aren't dead yet.

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Joe G & Money Talks
June 02, 2025 • Estimated Reading Time: 7 minutes

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BTC Bear Flag Targets $97K Amid Breakdown Risks

Bitcoin has dropped 11% from its all-time high of $111K, forming a textbook bear flag on the 4-hour chart.

  • Current support: $104,800

  • Bear flag projection: $97,600

  • Risk zones: $99,600 and yearly open near $92,000

“BTC looks like it has started a larger correction, likely into the 2nd week of June.”

June returns historically flat (+0.3%). Watch $99.6K and $108K closely.

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BTC: Highest Monthly Close Ever vs. $100K Retest Fears

Bitcoin closed up 11% in May, which is the best monthly candle ever. But bearish RSI divergence and reduced whale accumulation paint a different picture.

  • Key support: $105K

  • Whale profit-taking underway

  • MVRV zone hints at $120K local top

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