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Over the past few days, the Bitcoin market has witnessed largely unimpressive price action and performance. While the premier cryptocurrency did run up to as high as $108,000 earlier in the week, th

ZONE

Price Action

Cryptocurrency

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Over the past few days, the Bitcoin market has witnessed largely unimpressive price action and performance. While the premier cryptocurrency did run up to as high as $108,000 earlier in the week, the BTC price was mostly constrained to a tight range between $103,000 and $106,000.

Indeed, the flagship cryptocurrency has maintained its position above the psychological $100,000 level since early May, but it has not exactly built on this momentum. The latest on-chain data has provided insight into Bitcoin’s current reluctance to move and its possible trajectory in the coming weeks.

## **$95,000 Acting As A Barrier; Momentum Weakens**

In a June 21 post on social media platform X, on-chain analyst Burak Kesmeci reiterated his earlier projection that the Bitcoin price could, in the short term, fall to the $93,000 to $94,000 price range. In his post, Kesmeci cited multiple technical indicators, which form the foundation of his bias.

Related Reading: Ethereum Price Slips Below $2,500 — Sell Volume Suggests Mounting Bearish PressureThe first of these highlighted indicators is the Fixed Range Volume Profile (FRVP) Intensive Swap Level (ISL), which is a refined support or resistance level derived from the FRVP showing key areas where buyer-seller dominance flipped with intensive volume 

According to Kesmeci, the FRVP intensive swap level is roughly $95,000, meaning this zone is a significant resistance level. The online pundit also noted that if Bitcoin’s price were to fail to stay above this price level, it could further increase the sell pressure in the cryptocurrency market.

![Bitcoin](https://pbs.twimg.com/media/Gt_neLCWYAAW0od?format=jpg&name=large)



Source: @burak_kesmeci on X

The analyst also identified the 50-day Simple Moving Average (SMA50) as critical to the short-term trend. Kesmeci highlighted that the SMA50 is almost at $105,000 — the same level which, interestingly, BTC is about to close below for the second time. If Bitcoin successfully closes below this SMA50, the on-chain analyst inferred that it could catalyze the downside movement of the flagship cryptocurrency.

The Relative Strength Index (RSI) also seems to support Kesmeci’s bearish stance. Currently at levels below 50 and beneath the 14-day SMA, the RSI signals that there is a loss of momentum in Bitcoin’s bullish movement. 

As if it weren’t bad enough, Kesmeci also noted that lower lows are being formed in the RSI, and this stands as further proof that the market is currently seller-dominated.

## **‘Why I Am Waiting For $94,000’ — Kesmeci**

To answer the question of why $94,000 is the next critical level to watch out for, Kesmeci explained that the VAL (Value Area Low) in the FRVP points to approximately $93,000 to $94,000. Burak made it clear that this level can act as a strong support zone to send the price back after BTC’s short-term sell-off.

Additionally, the crypto pundit referenced the 200-day Simple Moving Average (SMA200) as another confirmation of his bias. True enough, the SMA200 is observed to converge near $95,000 Amidst Bitcoin’s price fall, Burak advised that market participants stay prepared for the highlighted support zone, as good opportunities to buy might surface around it. 

As of this writing, Bitcoin is valued at about $101,596, reflecting a 1.3% price decline over the past 24 hours.

Related Reading: Analyst Who Puts Dogecoin Price At $10 Reveals The Trend That Will Drive The Surge![Bitcoin](https://img-cdn.gateio.im/social/moments-8b34b1fcc4fc9f6618cf98c335972012)



The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView

Featured image from iStock, chart from TradingView
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Bitcoin Bears Take The Wheel — Why $94,000 May Be The Next Critical Zone | Bitcoinist.com

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Dogecoin’s recent market performance has added to growing concerns about the fading strength of the meme coin sector. Over the past 24 hours, the meme coin has plunged by nearly 4%, pushing its

DOGE

Dogecoin

MEME

Coin

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Dogecoin’s recent market performance has added to growing concerns about the fading strength of the meme coin sector. Over the past 24 hours, the meme coin has plunged by nearly 4%, pushing its price below $0.16 for the first time since April. This slide now extends a month-long downtrend, during which Dogecoin has been dropping from $0.23 up until the time of writing 

## Dogecoin Price Slips Below $0.16

Multiple support levels have been breached along the way to Dogecoin’s recent crash below $0.16, including $0.21 and $0.18. Notably, Dogecoin’s price decline has intensified in the past two days, which has caused it to fall in market cap rankings and become overtaken by Tron. At the time of writing, DOGE is posting losses of about 36% in a 30-day timeframe.

Related Reading: Bitcoin On-Chain Metrics Crash To Bear Market Levels Despite Price Sitting Close To ATHThis latest correction is not just a Dogecoin-specific event but reflects a broader decline in the entire crypto industry. Bitcoin’s sideways trading near the $104,000 to $106,000 range has weighed heavily on altcoins, and Dogecoin has proven particularly vulnerable. Furthermore, fading meme coin enthusiasm has also played a role, with other meme coins like Shiba Inu and PEPE down by around 30% in the past 30 days.

## What’s Next For DOGE?

Now that Dogecoin is officially trading below $0.16 again, the outlook is increasingly turning bearish. Technical analyst Ali Martinez, posting on social platform X, had previously pointed out the importance of Dogecoin’s previous price range between $0.16 and $0.22 

As noted by the analyst, a daily close outside this price range would signal the next major directional move, which could be as much as 60% in either direction. That signal has now been triggered into a downside movement. According to Martinez, this breakdown could pave the way for a sharp 60% correction if selling pressure increases. The symmetrical triangle pattern visible on the daily chart, once a sign of neutral consolidation, has now tipped bearish.

Related Reading: Analyst Who Puts Dogecoin Price At $10 Reveals The Trend That Will Drive The SurgeFrom a technical perspective, this breach invalidates the previous range-bound support and opens up downside targets as low as $0.088, a level not seen since the early stages of DOGE’s rally in August 2021. The Fibonacci levels also reinforce this outlook, with the next significant support sitting around $0.13. Unless Dogecoin can witness a rapid recovery above $0.16 in the coming days, its price may be heading toward a much deeper retracement, one that could redefine its position in the current market cycle.

![Dogecoin price](https://bitcoinist.com/wp-content/uploads/2025/06/Dogecoin-price.png?w=512&resize=512%2C343)

Image From X: @ali\_charts

Nonetheless, hopes for a Dogecoin ETF are still active, but they have failed so far to offset the weight of the bearish price action. According to Bloomberg Intelligence analyst James Seyffart, the odds of the SEC approving a Spot Dogecoin ETF are now about 90%. Only Litecoin, Solana, and XRP have a higher approval chance of 95%. At the time of writing, DOGE is trading at $0.1565 

![Dogecoin price chart from TradingView.com](https://img-cdn.gateio.im/social/moments-7196e211d066d911e9feb3624a48c481)DOGE price stays close to local lows | Source: DOGEUSDT on TradingView.comFeatured image from Dall.E, chart from TradingView.com
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Dogecoin Falls Below $0.16: Here’s How Its Price Action Could Play Out | Bitcoinist.com

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Bitcoin’s price action is still above the $100,000 threshold and within striking distance of its all-time high at $111,700, but its on-chain activity tells a completely different story. According to

On-Chain

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Bitcoin’s price action is still above the $100,000 threshold and within striking distance of its all-time high at $111,700, but its on-chain activity tells a completely different story. According to the latest report from on-chain analytics firm Glassnode, even though Bitcoin’s price is pushing to new heights, underlying blockchain metrics have slipped into territories more commonly associated with bear market phases.

Related Reading: Trump Dynasty Quietly Reduces Clout In World Liberty Financial—Report## **Quiet Blockchain Activity Despite Price Strength**

According to a report looking at various on-chain metrics from on-chain analytics company Glassnode, Bitcoin has mostly been highlighted by quiet blockchain activity despite its current price foray above $100,000. For example, daily transactions have now dropped to a range between 320,000 and 500,000, down from a peak of over 730,000 in 2024. This is a significant decrease in throughput for a network operating in a bullish price environment 

![](https://bitcoinist.com/wp-content/uploads/2025/06/a_d85821.png?resize=1024%2C585)

The slowdown in daily Bitcoin transactions is mainly tied to a corresponding decline in non-monetary activity such as Inscriptions and Runes, which had previously contributed to transaction spikes. The actual transfers of value in monetary transactions have been relatively steady, but overall, the drop in network usage has created a noticeable divergence where previous rallies to all-time highs were usually accompanied by a rise in on-chain transactions.

![](https://img-cdn.gateio.im/social/moments-6932ee7116678b500d5d3abde247360c)BTC is currently trading at $103,987. Chart: TradingViewAlthough transaction counts are falling, the Bitcoin blockchain is settling huge amounts of transactions on-chain. The daily volume average this cycle is around $7.5 billion and spiked as high as $16 billion during the initial rally above $100,000 in late 2024. However, the nature of these transactions has shifted from the hands of retail traders. The average volume per transaction is just above $36,000, meaning that large institutional players and high-net-worth individuals are now the primary users of the Bitcoin network.

![](https://bitcoinist.com/wp-content/uploads/2025/06/b_b7fd74.png?resize=1024%2C587)

Retail-size transactions (those under $100,000) have seen their relative share of the total volume go down massively. For example, transactions in the $0 to $1,000 range now represent less than 1% of total value transferred, down from about 4% at the start of this cycle 

![](https://bitcoinist.com/wp-content/uploads/2025/06/c.png?resize=1024%2C616)

## **Fee Pressure Drops While Off-Chain Trading Dominates**

Glassnode’s report also highlights how subdued the fee environment has become, even with Bitcoin trading around all-time high prices. Average miner revenue from transaction fees has dropped to just $558,000 per day. Although the decrease is partly due to technical improvements like SegWit and transaction batching, the massive fall in miner revenue indicates a notable drop in block-space demand and the overall reduction in the number of transactions 

![](https://bitcoinist.com/wp-content/uploads/2025/06/d.png?resize=1024%2C612)

On the other hand, trading activity has shifted to off-chain venues, especially centralized exchanges. Spot volumes often exceed $10 billion per day, while futures markets dominate with average daily volume around $57 billion and peaks surpassing $120 billion. Options markets are also growing, now handling over $2.4 billion per day. Altogether, these off-chain platforms handle 7 to 16 times more volume than what is settled directly on the Bitcoin blockchain.

![](https://bitcoinist.com/wp-content/uploads/2025/06/e.png?resize=1024%2C603)

Related Reading: Blockchain Powerhouse Pours $10M Into XRP And 4 Other Crypto StarsIn conclusion, the Glassnode report shows the changing dynamics of Bitcoin’s ecosystem and how it is slowly leaning more toward large institutions than retail traders. At the time of writing, Bitcoin is trading at $103,470, down by 2% in the past 24 hours.

*Featured image from Pexels, chart from TradingView*


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Bitcoin On-Chain Metrics Crash To Bear Market Levels Despite Price Sitting Close To ATH

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France was rocked this week by yet another crime targeting people who hold cryptocurrencies. A 23‑year‑old man was seized in a suburb of Paris and forced to reveal where he kept his digital keys.

OVER

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France was rocked this week by yet another crime targeting people who hold cryptocurrencies. A 23‑year‑old man was seized in a suburb of Paris and forced to reveal where he kept his digital keys. This case highlights how real‑world dangers can follow the money trails in the blockchain world.

Related Reading: Blockchain Powerhouse Pours $10M Into XRP And 4 Other Crypto Stars## **Kidnapping In Paris Suburb**

According to Le Parisien, the young man was taken in Maisons‑Alfort on Tuesday. He was held for several hours before being released in nearby Créteil. Authorities say the attackers used violence to make him talk. They didn’t just want his cash.

## **Demand For Cash And Crypto**

The kidnappers asked for 5,000 euros in cash, roughly $5,760. They also demanded the key to his Ledger hardware wallet. That device can hold thousands or even millions in crypto, depending on what’s inside. Under threat, the victim handed over both the money and the digital key.

### **A Wider Trend Of Attacks**

Based on reports, this is part of a growing pattern. In May, three men tried to grab the daughter and grandson of Pierre Noizat, CEO of crypto exchange Paymium.

Around the world, similar “wrench attacks” have made headlines. New York prosecutors charged two people for kidnapping a tourist to get his crypto.

![](https://img-cdn.gateio.im/social/moments-2c88cbfdf0f847d19f9a2a91fa9385b7)BTC is currently trading at $103,911. Chart: TradingViewIndia, Hong Kong, the Philippines and Spain have seen cases, too. Jameson Lopp, Bitcoin adopter and co‑founder of Casa, says he’s tracked 232 physical attacks on crypto users over the past 11 years. Even Hal Finney, who got the first Bitcoin transaction, was “swatted” in 2014.

### **Calls For Better Security**

Experts warn that hardware wallets aren’t foolproof against violence. If criminals force someone to plug in their device, the cold storage protection vanishes.

Some wallets let you set up a decoy account. That could limit losses if someone is threatened. Splitting assets across multiple wallets, or using multi‑signature setups, also helps.

Related Reading: Trump Dynasty Quietly Reduces Clout In World Liberty Financial—ReportDespite growing awareness, arrests in these cases remain rare. As of Thursday, French police hadn’t named any suspects. Victims often stay silent, fearing publicity or more threats.

But every story puts more pressure on law enforcement to act. Crypto companies, too, face calls to build features that protect users under duress.

France’s latest incident is a stark reminder: real danger lurks where money flows freely. Crypto can be digital, but those who use it live in the physical world. Staying safe means guarding both private keys and personal well‑being.

*Featured image from Unsplash, chart from TradingView*


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Bitcoinistcom

Bitcoin Bears Take The Wheel — Why $94,000 May Be The Next Critical Zone | Bitcoinist.com

Dogecoin Falls Below $0.16: Here’s How Its Price Action Could Play Out | Bitcoinist.com

Bitcoin On-Chain Metrics Crash To Bear Market Levels Despite Price Sitting Close To ATH

French Crypto User Assaulted Over Ledger Wallet In Shocking Attack