Bitcoin at a Crossroads: Will ’Apparent Demand’ Flip Spark a Retrace?

Bitcoin's rally faces a critical test as its 'apparent demand' signal teeters on the brink of negative territory. Traders are bracing for potential turbulence ahead.

### The Demand Dilemma

When the market's hunger for BTC wanes, price corrections often follow. This time, the stakes are higher—liquidity is thinner, leverage is stacked, and everyone's watching the order books like hawks.

### Bull vs. Bear Tug-of-War

Whales might see this as a buying opportunity, while retail traders could panic-sell at the first dip. Classic crypto volatility—where 'fundamentals' are just background noise to the real driver: herd mentality.

### The Cynic's Corner

Meanwhile, Wall Street 'experts' will spin this as either 'healthy consolidation' or 'the bubble popping'—depending on which narrative lets them front-run their clients.

At 56.89, the relative strength index is neutral but on the verge of becoming overbought. Bullish control WOULD be re-established with a breakout above $111,000, but a rejection and decline below $105,000 might signal a more significant pullback toward $101,000.

Looking ahead, macroeconomic events could have a significant impact on how prices MOVE in the coming days. Traders will be paying close attention to what central bank leaders have to say at the European Central Bank forum this week.

Jerome Powell, Federal Reserve Chair,  is scheduled to speak on Tuesday, July 1, alongside his counterparts from the UK, South Korea, and Japan. While Powell recently told lawmakers that the Fed is in no rush to cut interest rates, political pressure is mounting. U.S. President Donald TRUMP criticized Powell for keeping rates “artificially high” on a June 29 interview.

In the absence of strong apparent demand and unfavourable macroeconomic projectoons, Bitcoin may struggle to power through resistance without fresh catalysts.