Bitcoin Bounces From $71K Support, $101K Target in Play

• Short-term holders defended the $71,400 support, pushing Bitcoin higher.
• Upside targets reach $90,000–$101,000, with risk of reversal if trendline breaks.

On June 1, 2026, Cointelegraph reported that Bitcoin showed resilience by rebounding from a crucial on-chain support at $71,400, a level defined by the realized price of coins held by the three-to-six-month holder cohort. Analysts identified this price as the strongest near-term support zone, with short-term holders actively defending it and sparking a swift recovery in the Bitcoin market.

Historical Glassnode data indicates that after similar rebounds, average Bitcoin gains reach 21.9% over three months and 36.6% over six months. These patterns suggest upside targets of $90,200 and $101,100, provided the current rally remains intact.

The immediate resistance level for bullish traders is $78,200, which aligns with previous cost-basis thresholds lost during the October 2025 pullback. If Bitcoin sustains momentum beyond this level, the potential for further gains increases.

However, the technical outlook requires caution as Bitcoin is consolidating near the lower boundary of a developing daily bear flag structure. Analysts warn that a daily close below this trendline could confirm a breakdown toward $50,000–$60,000, invalidating the current recovery move and underscoring the importance of trendline support.

As of June 1, 2026, 03:09 UTC, Bitcoin (BTC) trades at $73,865.05, with a 0.16% decrease in 24-hour trading volume, according to CoinMarketCap.