Bitcoin Drops Below $105,000, But Bullish Sentiment Remains Strong
TradingKey – Bitcoin briefly fell below $105,000, but bullish sentiment remains high, with tonight’s U.S. PCE data set to be a crucial market driver.
On Friday, May 30, Bitcoin (BTC) continued its pullback, dropping below $105,000 in early trading, hitting a low of $104,600. As of publication, BTC rebounded above $105,000, currently trading at $106,097.
Bitcoin Price Chart (Minute) – Source: TradingView.
According to Placeholder partner Chris Burniske, Bitcoin’s recent dip is merely a correction, not a sign of the bull market ending. Burniske posted on social media:
"Don’t mistake a minor pullback for the end of the trend—the overall risk/reward structure remains healthy."
BTC’s $105,000 support remains intact, but its ability to sustain a rebound will depend on the Personal Consumption Expenditures (PCE) index set to be released tonight in the U.S.
- A favorable PCE reading could boost Bitcoin, supporting a bullish reversal.
- A disappointing report may drive BTC toward further downside, with the next key support at $100,000.
Bitcoin Price Chart (Daily) – Source: TradingView.
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