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A Failed High Could Trigger a Bitcoin Correction
Cryptocurrency
Summary:
Following a sharp rebound from near the 100,000 mark, the recent rally of nearly 10% has shown signs of losing momentum, raising the probability of a short-term correction.
Sell
CLOSEDBTC-USDT
End Time
109681.3
Entry Price
105000.0
TP
112500.0
SL
105950.0 +382.0 +0.36%
9310
Points
Profit
105000.0
TP
108750.3
CLOSING
109681.3
Entry Price
112500.0
SL
The core software of the Bitcoin network—widely known as Bitcoin Core—is on track to undergo a significant upgrade that could redefine both the technical framework and the community dynamics of the ecosystem.
The upcoming release of Bitcoin Core version 30, scheduled for October 2025, introduces a landmark change: it will lift the long-standing data restriction on transactions using the OP_RETURN function. This change will increase the data limit from the current 80 bytes to nearly 4 megabytes per transaction—the maximum capacity permitted within a Bitcoin block.
This development, confirmed via GitHub and first reported by CoinDesk, is the result of extended and highly public deliberations among developers, cryptographic researchers, and Bitcoin users. While many view this as a step forward in enhancing internal efficiency and offering greater flexibility, others warn that it could open the floodgates to previously unseen vulnerabilities, such as a sharp increase in network spam.
Skeptics argue that enabling transactions to include such large amounts of arbitrary data runs contrary to the original intent of the Bitcoin blockchain as outlined by its pseudonymous creator, Satoshi Nakamoto. They caution that this move could distort the chain’s primary function as a decentralized ledger for peer-to-peer value transfer.
Nevertheless, there is general consensus within the community that expanding OP_RETURN’s capacity could significantly amplify the network’s ability to store non-financial data directly on the blockchain. While this opens the door to innovative use cases—such as digital archiving and timestamping—it also revives old concerns about potential misuse, network congestion, and the ongoing debate over what Bitcoin’s core utility should be.
On the geopolitical front, optimism is stirring across the crypto market as the United States and China prepare to resume high-level trade negotiations in London this Monday. The diplomatic effort is already helping to support risk sentiment, which has, in turn, lifted interest in digital assets.
Top U.S. trade officials from President Donald Trump’s administration are set to meet with their Chinese counterparts for direct discussions over tariffs, amid lingering fears of a prolonged trade war between the world’s two largest economies. The talks aim to re-establish lines of cooperation and defuse economic tensions that have weighed on global markets for months.
Speaking on CNBC’s “Squawk Box,” Kevin Hassett, Director of the U.S. National Economic Council, described the meeting as likely to be “brief but significant,” noting the expectation of a firm handshake and a potential breakthrough. Hassett emphasized that the primary goal is to ensure China is serious about reopening the flow of critical minerals—materials essential to advanced technology, defense systems, and clean energy infrastructure.
The U.S. delegation will be led by Treasury Secretary Scott Bessent, while China’s team will be headed by Vice Premier He Lifeng, signaling the importance both sides attach to the encounter.
Technical Analysis
Bitcoin (BTC/USD) has begun to encounter resistance as it approaches the psychologically significant 111,000 level—a zone that may serve as a profit-taking area for short-term traders. Following a sharp rebound from near the 100,000 mark, the recent rally of nearly 10% has shown signs of losing momentum, raising the probability of a short-term correction.
Should selling pressure intensify, the price could retreat toward the next major support around 104,600. Further below, the 100- and 200-period moving averages on the 12-hour chart—currently located at 102,259 and 93,165, respectively—offer substantial downside room for a healthy pullback before the broader uptrend potentially resumes.
Notably, the price action has failed to produce a new local high, and buyers were unable to break through the 110,935 resistance level. This hesitation could be interpreted as a bearish signal, suggesting that the bulls may be losing strength and that a downside correction may accelerate if the price continues to stall.
The Relative Strength Index (RSI) currently reads at 63, signaling that the market is not yet overbought, which leaves the door open for another upward push—especially if Bitcoin manages to reclaim its bullish momentum and print a new high in upcoming sessions. However, until that happens, the lack of upward follow-through could be an early sign of a shift in short-term market sentiment.
Trading Recommendations
Trading direction: Sell
Entry price: 109650
Target price: 105000
Stop loss: 112500
Validity: Jun 20, 2025 15:00:00
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