Donald Trump

Bitcoin

President Donald Trump

<p>Bitcoin price recovered above $62,000 on Monday after last week’s selloff pushed the asset to about $59,100.&nbsp;</p>
<div id="cn-block-summary-block_b8bfbe7880f17a1b8abed7560982c8d6" class="cn-block-summary">
 <div class="cn-block-summary__nav tabs"><span>Summary</span>
 </div>
 <div class="cn-block-summary__content">
  <ul>
   <li>Bitcoin reclaimed its 200-week average after sweeping February’s low, but resistance remains near $64,000.</li>
   <li>Oversold RSI supports a relief bounce, while bearish MACD shows sellers still control broader momentum.</li>
   <li>Rising open interest increases liquidation risk as traders watch $55,000 if the recovery loses support.</li>
  </ul>
 </div>
</div>
<p>The rebound briefly carried BTC near $64,200 before sellers returned, leaving the market between long-term support and its first recovery barrier.</p>
<p>At the time of writing, Bitcoin <a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">traded</a> near $63,000, up 1.39% over 24 hours. Its daily range stood between $61,206 and $63,739, while the seven-day loss remained 14.06%. Buyers have slowed the decline, but they have not reversed the broader weekly trend. ETF flows and futures positioning also remain important tests for the rebound.</p>
<p>You might also like: <a href="https://crypto.news/jpmorgan-sees-strategy-reserve-shortfall-as-key-risk-for-bitcoin-investors/" rel="noopener noreferrer nofollow"> JPMorgan sees Strategy reserve shortfall as key risk for Bitcoin investors </a></p>
<h2 class="wp-block-heading" id="strong-bitcoin-price-holds-the-200-week-moving-average-strong"><strong>Bitcoin price holds the 200-week moving average</strong></h2>
<p>Bitcoin closed the week above its 200-week simple moving average near $62,800 after sweeping the February low, according to crypto analyst Crypto Rover. Traders follow this average because it tracks Bitcoin’s long-term trend.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-x wp-block-embed-x">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet">
   <p>GOOD START OF THE WEEK FOR BITCOIN! <a href="https://x.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> weekly close: above the 200W SMA.<br><br>The February low got swept first. Liquidity grabbed. <a href="https://t.co/s5pJ0QJc6S" rel="noopener noreferrer nofollow">pic.twitter.com/s5pJ0QJc6S</a></p>— Crypto Rover (@cryptorover) <a href="https://x.com/cryptorover/status/2063883223227330954?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 8, 2026</a>
  </blockquote>
 </div>
</figure>
<p>Holding above it could support another test of $64,000 to $64,200. A daily close below the average would return attention to $60,000 and the recent $59,100 low.</p>
<p>The June decline followed several waves of macro pressure. Higher inflation weakened expectations for easier monetary policy in May. Strong U.S. employment data then added another setback.&nbsp;</p>
<p>The economy created 172,000 jobs in May, compared with forecasts of 85,000, while unemployment stayed at 4.3%. As previously <a href="https://crypto.news/bitcoin-price-falls-below-60k-as-hot-u-s-jobs-report-crushes-rate-cut-hopes/" rel="noopener noreferrer nofollow">reported</a> by crypto.news, Bitcoin’s break below $60,000 came as total crypto liquidations passed $1.7 billion within 24 hours.</p>
<h2 class="wp-block-heading" id="strong-oversold-rsi-meets-a-still-bearish-macd-setup-strong"><strong>Oversold RSI meets a still-bearish MACD setup</strong></h2>
<p>Bitcoin’s 14-day relative strength index stands at 26.43, below the 30 oversold threshold and its RSI moving average of 28.60. The reading shows that selling became stretched, which can support a relief bounce without confirming a lasting bottom. According to analyst Crypto Rover, the Fear and Greed Index has also fallen to 8, placing sentiment in “extreme fear.”</p>
<figure class="wp-block-embed is-type-rich is-provider-x wp-block-embed-x">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet">
   <p>WARNING: 🩸 <a href="https://x.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> fear &amp; greed index hits 8. <br><br>EXTREME FEAR. <a href="https://t.co/rC9frZ40EW" rel="noopener noreferrer nofollow">pic.twitter.com/rC9frZ40EW</a></p>— Crypto Rover (@cryptorover) <a href="https://x.com/cryptorover/status/2063874163732017343?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 8, 2026</a>
  </blockquote>
 </div>
</figure>
<p>The Wolf of All Streets trader Scott Melker <a href="https://x.com/scottmelker/status/2063775288882819569?s=20" rel="noopener noreferrer nofollow">said</a> Bitcoin may be forming a weekly bullish divergence from oversold RSI. “Need this week to close with a clear elbow up on price and RSI,” he wrote. The signal remains unconfirmed because price and momentum must turn higher together.&nbsp;</p>
<p>Bitcoin’s MACD line sits near -4,019.58, below the signal line at -2,951.83, while the histogram remains negative at -1,067.75. Rising selling volume supports the bearish momentum reading and shows that sellers remain active despite the rebound.</p>
<figure class="wp-block-image size-large"><img width="1024" height="627" src="https://media.crypto.news/2026/06/image-77-1024x627.webp" alt="Bitcoin (BTC) price chart, source: crypto.news">
 <figcaption>
  Bitcoin (BTC) price chart, source: crypto.news
 </figcaption>
</figure>
<h2 class="wp-block-heading" id="strong-trump-iran-headlines-keep-bitcoin-traders-cautious-strong"><strong>Trump-Iran headlines keep Bitcoin traders cautious</strong></h2>
<p>Bitcoin’s move toward $64,000 followed comments from U.S. President Donald Trump about a possible agreement with Iran. Trump said the parties were “very close” to a deal and claimed Israeli Prime Minister Benjamin Netanyahu did not control the process, <a href="https://www.reuters.com/world/middle-east/trump-says-new-israel-iran-strikes-wont-affect-peace-deal-2026-06-08/" rel="noopener noreferrer nofollow">according</a> to Reuters. Traders initially treated the remarks as a possible reduction in geopolitical risk, helping stocks and cryptocurrencies recover from their late-week lows.</p>
<p>Events on June 8 weakened that optimism. Israel struck military targets and a petrochemical site in Iran after Tehran fired missiles toward Israel. Trump maintained that the attacks would not derail talks, but the renewed exchange left the agreement uncertain.&nbsp;</p>
<p>Brent oil rose above $96 per barrel as prices gained more than 3%. Higher energy costs could keep inflation and interest-rate concerns active for Bitcoin. The market may therefore remain sensitive to each new military or diplomatic update.</p>
<h2 class="wp-block-heading" id="strong-bitcoin-support-levels-place-55-000-next-in-focus-strong"><strong>Bitcoin support levels place $55,000 next in focus</strong></h2>
<p>Analyst Ali Martinez listed the 200-week average at $62,800, the 300-week average at $55,000 and the 400-week average near $42,500. These levels form a long-term support ladder rather than fixed targets.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-x wp-block-embed-x">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet">
   <p>For anyone planning to dollar-cost average into Bitcoin <a href="https://x.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> ahead of the next bull market, these are the levels I’m tracking:<br><br>• 200W SMA: $62,800<br>• 300W SMA: $55,000<br>• 400W SMA: $42,500 <a href="https://t.co/ole0OsEl9o" rel="noopener noreferrer nofollow">pic.twitter.com/ole0OsEl9o</a></p>— Ali Charts (@alicharts) <a href="https://x.com/alicharts/status/2063871011322302524?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 8, 2026</a>
  </blockquote>
 </div>
</figure>
<p>Bitcoin must first defend $62,800 and $60,000 before the lower averages become active tests. The $55,000 area also matches a long-running trendline <a href="https://x.com/CryptoPatel/status/2063825846020759754?s=20" rel="noopener noreferrer nofollow">tracked</a> by Crypto Patel, making it the next broad support zone if the recent low fails.</p>
<p>Calls for $42,500 or $35,000 remain conditional bearish cases rather than immediate forecasts. Bitcoin would need to lose the 200-week average, the $60,000 level, the $59,100 low and the $55,000 region before those levels gain weight. That sequence gives traders several areas to assess before treating a deeper fall as the main path.</p>
<p>Derivatives data adds another risk. Crypto.news <a href="https://crypto.news/bitcoin-open-interest-rises-as-price-drop-raises-squeeze-risk/" rel="noopener noreferrer nofollow">reported</a> that open interest rose while Bitcoin’s price fell, showing that traders added leverage during weakness. That setup can produce a short squeeze if BTC clears $64,200, or another long squeeze if the price falls below $60,000. A firm close above $64,200 would strengthen the recovery and support the bullish RSI case.</p>
<p>For now, $62,800 remains the main dividing line. Holding it would keep $64,200 within reach and give buyers time to build a base. Failure to hold the 200-week average would place $60,000, $59,100 and $55,000 back in focus, while the bearish MACD would remain the stronger trend signal.</p>
<p>Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.</p>
<p>Read more: <a href="https://crypto.news/piggybanks-lab-hedge-backfires-as-usdc-vault-nav-drops-15/" rel="noopener noreferrer nofollow"> PiggyBank’s LAB hedge backfires as USDC vault NAV drops 15% </a></p>

Bitcoin price reclaims $63,000: Can the recovery reach $64K?

Table of Contents

crypto.news

Other articles published on Jun 8, 2026

Join our free newsletter for daily crypto updates!