Bitcoin (BTC) Price Crashes as Analyst John Bollinger Issues Bearish Signal

Jakarta, Pintu News – The cryptocurrency market has been rocked once again with a gloomy prediction for the price of Bitcoin (BTC) in June 2025. John Bollinger, creator of the popular technical indicator Bollinger Bands, issued a warning signalling the possible end of Bitcoin’s rally phase.

John Bollinger recently tweeted a technical analysis showing the “Three Pushes to a High” pattern on the BTC/USD daily chart. This pattern is seen when the price of Bitcoin (BTC) touches the upper band of Bollinger three times, which usually signals an overbought condition.

It also reflects the failure of the breakout, which reinforces the indication of weak buying pressure in the market. Bollinger concludes that the rally phase has ended and the potential for a price correction is wide open.

Read also: Bitcoin (BTC) Could Hit $120,000 in 2025 — What Does Polymarket Predict?

Since May 23, Bitcoin price has fallen by 6.54% and is currently above the support level of Rp1.7 billion (equivalent to $104,000). If the momentum weakens, it is likely that the BTC price will test the next support level at Rp1.66 billion ($102,420).

A drop below this level could strengthen bearish sentiment among investors. This aligns with John Bollinger’s prediction, signalling the risk of a further decline by June 2025.

Here are 5 essential facts about institutional investors’ declining interest in Bitcoin (BTC):

• Implied Volatility (IV) Plummets: BTC’s 30-day IV dropped to its lowest point in 11 months. Signaling the market’s expectation of large price movements is getting lower.
• BTC Futures Contract Open Interest Drops Sharply: From IDR284.8 trillion ($17.51 billion) to IDR255.1 trillion ($15.69 billion) in 5 days. Indicating decreased liquidity and market participation.
• BTC Options Open Interest Also Shrinks: From IDR77.1 trillion ($4.74 billion) to just IDR49.5 trillion ($3.04 billion). A sign that traders are reluctant to speculate further.
• Annualized Basis Decrease: From 9.18% to 6.29%. Indicating the profit margin of futures contracts is lower than spot BTC.
• Institutional Attention Turns to Ethereum (ETH): Many large players have started to shift allocations from BTC to ETH. This decline in interest helped fuel bearish pressure in the cryptocurrency market.

Under these conditions, many analysts predict the potential for the price of BTC to plummet towards Rp1.6 billion ($100,000) and even lower. If the critical support at Rp1.67 billion ($102,900) is broken, BTC could slide to the Rp1.58 billion ($97,000) zone.

Technically, Bitcoin’s daily chart shows three lower price peaks since printing the ATH at Rp1.82 billion ($112,000). If the price breaks the support of Rp1.67 billion, the market structure will turn bearish in the long run.

Read also: Top Crypto Analyst Predicts Solana (SOL) Price to Reach $200, Here’s His Analysis!

This could potentially trigger a further correction to IDR1.61 billion ($101,000) or even to the psychological level of IDR1.62 billion ($100,000). Traders should take this support as a key reference for their next trading decision.

Meanwhile, the 4-hour chart of BTC/USDT shows a pattern of higher highs and higher lows since May 31. BTC is now trading at around Rp1.7 billion ($104,629), after bouncing off short-term support at Rp1.69 billion ($104,274).

If this uptrend holds, the potential for a rebound to the next resistance level at IDR1.75 billion ($107,782) is still open. However, if the price fails to break the resistance again, selling pressure could increase again.

That’s the latest information about crypto. Follow us on Google News to stay up-to-date on the world of crypto and blockchain technology.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Bitcoin Price Crash Likely as Bollinger Band Creator Signals End of Rally Phase. Accessed June 6, 2025
• Featured Image: Generated by AI