Bitcoin Hits the $110K Mark: Is the Door to $120,000 Open?

Release Time: 10:00 AM, June 11, 2025 Author: Mr. Leon

MARKET OVERVIEW

1. Stock Market:

  • Vietnam Market: The VN-Index closed yesterday's session with a +0.4% gain, reaching 1,316.2 points. The market witnessed a surge of cash flow into the mid-cap group, with a slight increase in liquidity to ~17.01 Trillion VND.
    • Trend: Still in a range-bound/tussling phase; support comes from the mid-cap group but could be affected if demand weakens.
  • US Market: Wall Street closed with slight gains:
    • The S&P 500 rose by approximately +0.09% to 6,006; the Nasdaq increased by +0.31%, and the Dow was flat.
    • Reasons:
      • Optimism regarding progress in US-China trade negotiations supported sentiment.
      • The technology sector remains attractive due to profits and positive economic forecasts.

2. Foreign Exchange (Forex):

  • USD/JPY is currently at 144.96 JPY, up slightly by +0.07% from yesterday. The daily trading range is 144.66 – 145.16.
  • Analysis:
    • The USD has slightly recovered. Potential support is around 144 JPY; if it breaks above 145+, it could pave the way for 146–147 JPY.

3. Gold:

  • Current Price: $3,328.89/ounce, up +0.2% (≈ +7 points) from the previous session.
  • Situation:
    • A slight increase due to prolonged concerns in US-China negotiations, driving safe-haven demand.
    • The market is awaiting US Consumer Price Index (CPI) data, which is expected to significantly influence the Fed's monetary policy direction.
  • Short-term Outlook: The price may continue to trend towards $3,350 – $3,380 if trade tensions persist, or adjust slightly if the US CPI data is surprisingly strong.

4. Oil:

  • WTI: Around $64.77/barrel, with a similar slight decrease.
  • Reasons:
    • Initially rose on expectations of improved demand from US-China trade talks.
    • Pressure from increased OPEC+ supply and slow growth in China caused a slight reversal in price.

5. Bitcoin:

  • Current Price: Fluctuating around ≈ $109,800, up ~0.2% from yesterday.
  • In the last 24 hours:
    • It surpassed the $110,000 mark, peaking around $110,262, before stabilizing near $109,790.
  • Supporting Factors:
    • Strong inflows from ETFs and a promising policy outlook for crypto, such as the recently passed Digital Asset Market Clarity Act.
    • Bitcoin is still testing the $110k resistance zone; it remains on an upward trend if it holds firm.
  • Short-term Outlook: Positive at the $110k level. If it breaks through and sustains above this peak, it could trigger a momentum wave towards $115k – $120k.

OUTLOOK & STRATEGY

1. ETH/USD

  • Trend: Bullish
  • Recommendation: Wait to buy at 2580, Stop Loss at 2447, Take Profit at 3136.

2. WTI

  • Trend: Recovery
  • Recommendation: Buy at 62, Stop Loss at 59.3, Take Profit at 69.8.

KEY EVENTS TODAY:

  • 19:30 (7:30 PM) - USD: Core CPI m/m, Core CPI y/y

DISCLAIMER

  • The opinions above represent the personal views of the analyst, Mr. Leon of Lotus, and do not constitute a basis for actual market participation.
  • Lotus only provides technical trading analysis and trading knowledge education for its students.
  • Lotus does not represent any securities firm or asset management company.
  • Lotus does not manage funds for its students.