Bitcoin recently rebounded with a 4.7% increase, pushing its price to $106,263, just under a critical resistance level. This recovery follows a two-week downtrend where BTC fell to $100,200. Despite the rebound, it faces selling pressure from long-term holders that might cause a further price correction.

Key support levels emerge at $103,700 and $95,600, where significant portions of Bitcoin have been historically acquired. If selling pressure mounts, these levels could act as strong defenses against a deeper plunge.

Historically, June proves positive for Bitcoin, typically rising by 2.58%. Thus, while short-term corrections due to holder selling persist, long-term predictions remain bullish, contingent on broader market improvements.

If Bitcoin remains unable to surpass $106,265, a drop to $105,000 or even $102,734 is likely. Conversely, a bullish market may propel Bitcoin beyond its current resistance, targeting $108,000, shattering the bearish sentiment.