Bitcoin Price Slips After May Highs: Is $100K in Danger?

Bitcoin (BTC) ended May on a historic high, briefly touching an all-time peak of $111,980. However, the start of June has been less encouraging, with prices retreating to the $104,000 level. One key technical indicator is now flashing potential warning signs. The daily Bollinger Bands—used to assess volatility—have tightened significantly following May’s breakout. BTC has slipped toward the lower half of the band range and currently hovers around the midline at $104,278. A decisive move below the lower band could push Bitcoin back toward the six-figure threshold or lower.

This cooling comes after a powerful Q2 rally that saw BTC break out from a months-long range between $70,000 and $90,000. The $100,000 level, once seen as a psychological ceiling, has recently acted as a price floor. But the current retracement puts that level to the test again.

Technical signals suggest growing uncertainty. Volume on the daily chart has dropped, and candlestick patterns near the $106,000 resistance show indecision. While the broader uptrend remains intact on the weekly timeframe, the appearance of a red candle indicates waning short-term bullish momentum.

Investor sentiment is now mixed, with some anticipating a temporary dip while others brace for a deeper pullback into five-figure territory. With Bitcoin at a pivotal point, the next few trading sessions could determine whether the current weakness is just consolidation or the start of a larger correction.