Bitcoin's bounce isn't a bullish revival, with anything from $68,000 to $80,000 seen as a marker

Crypto Daybook AmericasShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailBitcoin's bounce isn't a bullish revival, with anything from $68,000 to $80,000 seen as a markerYour day-ahead look for June 9, 2026By Omkar Godbole, Olivier Acuna|Edited by Sheldon RebackUpdated Jun 9, 2026, 11:58 a.m. Published Jun 9, 2026, 11:16 a.m. 3 min readMake preferred on What to know: This is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here, if you haven't already.Bitcoin BTC$63,271.85 has carved out a relief bounce after plunging below $60,000 on Friday, but a bounce and a bullish revival are two very different things. The latter hinges on a couple of key price levels, according to analysts. "The market has become oversold enough for sharp relief rallies, especially if inflation data softens and ETF outflows slow," analysts at HEX Trust said in an email. "But the difference between a relief rally and a regime shift is acceptance ... BTC needs [to retake] $79k-$80k." In other words, anything below $80,000 would be seen as a corrective bounce within the broader bear market that began last year. Only a move beyond that would signal the beginning of a new advance. Their stance may be overly cautious, according to some observers."Technically, a recovery up to $68K could be viewed as a rebound from the downward momentum seen between 11 May and 5 June," said Alex Kuptsikevich, the chief analyst at FxPro, hinting at a lower price level to beat for the bulls. A rally even to these levels hinges on ETF flows and macro factors. The 11 spot bitcoin ETFs listed in the U.S. have processed redemptions over $5 billion in the past four weeks. On Monday, investors yanked another $91 million, according to data source SoSoValue. These outflows need to meaningfully reverse for the bitcoin price to gain upward momentum. In addition, Wednesday's U.S. inflation data may have to come in softer than expected, easing concerns the Fed will raise interest rates. The data is expe…

Bitcoin's bounce isn't a bullish revival, with anything from $68,000 to $80,000 seen as a marker

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