Bitcoin Holds Above $100,000 for 20 Days Institutional Backing Drives 63.28% Dominance

Bitcoin has shown remarkable resilience in early June 2025, maintaining its price above the $100,000 mark for over 20 consecutive days. The cryptocurrency reached an all-time high near $112,000 in May and has since been trading around $104,000-$105,000. This stability reflects strong market confidence and institutional backing, with the market capitalization standing at $2.06 trillion and bitcoin dominance at 63.28%.

Technical indicators suggest that the bitcoin price could target $120,000 in the near term if key resistance levels are broken. The cryptocurrency is currently in a bullish configuration, trading above its 50-day Exponential Moving Average (EMA) at $100,852 and 200-day EMA at $96,559. The Relative Strength Index (RSI) at 42.80 indicates neutral momentum conditions. Key support levels include $100,000 and $98,000, while resistance sits at $108,000 and $112,000. The Fear & Greed Index at 69 reflects optimistic market sentiment, though traders should monitor for potential volatility around these critical levels.

Institutional adoption continues to drive bullish predictions for bitcoin. Analysts have upgraded their forecasts for 2025, with targets ranging from $150,000 to $250,000 by year-end. This optimism is fueled by the unprecedented institutional adoption of bitcoin, with 61 corporate treasuries now holding 3.2% of the total Bitcoin supply. Bitcoin ETFs have attracted over $110 billion in assets under management, representing 5.97% of Bitcoin's market cap. This institutional infrastructure provides fundamental support for higher bitcoin price levels.

Despite the bullish outlook, several factors could influence the bitcoin price trajectory. Analysts warn that corporate Bitcoin treasuries could become forced sellers if prices drop more than 22% below average purchase prices, potentially triggering downward pressure near $90,000 levels. Political tensions and regulatory developments, such as those between Trump and Musk, have also demonstrated the sensitivity of the bitcoin price to external factors. Additionally, macroeconomic factors including Federal Reserve policy decisions and international trade developments continue to influence institutional investment flows.