- Long-term holders are selling, putting Bitcoin’s key support levels around $103.7K and $95.6K at risk.
- June’s strong historical performance hinted at a potential rebound despite current bearish pressure.
June has historically been a positive month for Bitcoin [BTC], often bringing relief to traders after a choppy spring.
However, this year, signs of market stress are emerging as long-term holders begin to offload, putting key support zones to the test, even after a two-week downtrend.
While historical trends suggest upside potential, the market now stands at a critical turning point.
The next move depends on buyer activity—if demand holds, Bitcoin may follow its seasonal trend, but if buyers hesitate, a deeper bearish setup could unfold.
Support zones under stress
Bitcoin’s recent pullback is testing the patience of long-term holders and the strength of key support zones.
According to Glassnode’s quantile cost basis model, the $103,700 level marks the 0.95 Spendable Supply Distribution (SSD), meaning that 95% of the circulating BTC was acquired at a price below this level.
Source: Glassnode
This historically serves as a resilient floor. The next defense lies at $95,600, the 0.85 SSD mark.
If bearish pressure intensifies, these key price zones, which reflect the cost basis for most holders, could become crucial battlegrounds in Bitcoin’s fight to maintain its broader uptrend.
Possible rebound for Bitcoin?
Even as long-term holders add downward pressure, history suggests June often delivers a reprieve for Bitcoin.
With a median monthly return of +2.58%, the sixth month has been one of modest but consistent strength for the asset.
Source: cryptorank.io
Recent corrections, though unsettling, may be short-lived if macro conditions remain favorable and buyer confidence returns.
Bitcoin could rebound in line with its historical performance in June, thereby maintaining the broader uptrend.
As sentiment stabilizes and selling pressure eases, June’s usual resilience might once again act as a launchpad for renewed bullish momentum in the second half of the year.
