Bitcoin maintains a "key level" of $105,500, analysts say the long-term outlook remains optimistic.

BlockBeats News, on June 2, according to TheBlock, BTC Markets crypto analyst Rachael Lucas said, “The price of Bitcoin is at a psychological and technical “pivotal point” that could determine the success or failure of a bull market. Indicators such as the RSI and MACD show that the strong bullish momentum is starting to wane, at least temporarily. However, the long-term outlook remains positive. We may be in the early stages of a new supercycle. Bitcoin’s support is firmer around $103,000, and the more solid bottom is around $97,600.” According to Lucas, there are two possible scenarios for bitcoin in the coming days: “If bitcoin can hold the range of $103,000 to $105,000, it is expected to attack $115,000 again. On the other hand, a break below $103,000 could trigger a deeper pullback, with a price target in the $93,000 to $97,000 range. The latter scenario should not be seen as the end of the overall uptrend, but rather as a signal that the market needs more time to prepare for further price growth. Bitcoin is becoming more connected to traditional financial markets and is more sensitive to economic data, central bank commentary, and geopolitical risks.”