- RSI divergence and stablecoin outflows signal mounting bearish pressure on Bitcoin
- Key support levels at $99.6K and $97.6K may determine BTC’s next major direction
- Despite volatility, analysts believe BTC’s broader bull trend remains structurally intact
Bitcoin (BTC) has entered the first week of June with notable uncertainty, following a turbulent close to May. After briefly touching highs near $108,000, the price has since retreated. At the time of writing, BTC trades around $103,902, down 5.29% over the past week.
This movement follows a series of bearish signals, including a divergence in the Relative Strength Index (RSI) and significant stablecoin outflows from major exchanges like Binance. As analysts weigh the potential for a continued pullback, key technical levels and macroeconomic events are shaping Bitcoin’s near-term trajectory.
Signs of Weakness After Historic Monthly Close
Despite finishing May with a record monthly close, Bitcoin’s momentum has begun to wane. Technical analysts are closely watching the RSI divergence on the weekly chart. According to trader Matthew Hyland, this pattern often signals a slowdown in price strength.
Another trader, Titan of Crypto, also flagged the potential formation of a bearish RSI divergence. This, combined with a gap between Fibonacci levels, suggests a correction could be underway.
Moreover, over $1 billion in stablecoin outflows from Binance hint at growing risk aversion among investors. Historically, such capital movements precede periods of market caution.
Significantly, large Bitcoin holders often referred to as “whales” have started taking profits. This behavior usually leads to increased volatility and signals that short-term tops may be forming.
Analysts Eye Critical Support Zones
Key support levels remain in focus as the market searches for direction. Daan Crypto Trades highlighted $99,600 and $108,000 as the crucial levels to monitor this week. A drop below $99,600 may send BTC down to its 200-day simple moving average at $97,600. Conversely, a break above $108,000 could drive a retest of the $111,900 level, though resistance is expected there.
$BTC My plan for the month ahead 👇
— Daan Crypto Trades (@DaanCrypto) June 1, 2025
ith eyes on this strong monthly statistic, I am looking for either of these two scenarios. Drawings are a rough estimate, obviously the moves can go lower or higher, it's more about the idea than the precise levels for now.
I think there's a… https://t.co/eAhQA1njgY pic.twitter.com/CHT6pcTiSd
AlphaBTC pointed to a bear flag breakdown on the four-hour chart, suggesting that the $102,000 demand zone could soon be tested. A loss of this level may bring the yearly open above $92,000 into play. Further downside could drag Bitcoin toward $85,000 if broader market sentiment worsens.
Uptrend Still Intact, Say Some Traders
Despite near-term weakness, analysts like CrypNuevo believe the broader bull trend remains intact. They suggest a drop toward $100,000 could act as a shakeout before another leg higher. The psychological strength of round numbers like $100K and support around $84K continue to offer a safety net for bulls.
