The cryptocurrency market, particularly Bitcoin (BTC), has seen significant price action recently, with a notable sweep of the $104,000 level as reported on June 18, 2025. According to a detailed update from a well-known crypto analyst on social media, this price point appears to be critical for market participants, with evidence of a passive buyer stepping in and substantial order sizes being flashed at this level. This activity suggests that $104,000 is a key psychological and technical threshold for Bitcoin, potentially acting as a support zone. The update also highlighted that earlier long positions from the day were flushed out, indicating a shakeout of weaker hands, while bid depth in both orderbooks has started to build up, signaling renewed buying interest as of 10:00 AM UTC on June 18, 2025. This price movement comes amidst a broader market context where Bitcoin's volatility continues to attract attention from both retail and institutional traders. Additionally, the stock market has shown mixed signals this week, with the S&P 500 gaining 0.5% to close at 5,870 points on June 17, 2025, reflecting cautious optimism among investors. This stock market stability could indirectly bolster risk appetite in crypto, as investors often rotate capital between traditional and digital assets during periods of low volatility in equities. Understanding these cross-market dynamics is crucial for traders looking to capitalize on Bitcoin's price action at this pivotal level, especially as macro conditions and sentiment in traditional markets continue to influence crypto flows.

From a trading perspective, the sweep of $104,000 and the presence of a passive buyer present actionable opportunities for both short-term scalpers and longer-term position traders. The flush of earlier longs suggests that stop-loss orders were triggered around this level, likely between 9:00 AM and 10:00 AM UTC on June 18, 2025, creating a potential reversal setup for savvy traders. For those trading BTC/USD on major exchanges like Binance or Coinbase, monitoring orderbook depth is critical—current data shows a bid-ask spread tightening, with bids stacking up at $103,800 as of 11:00 AM UTC on the same day, indicating possible accumulation. Cross-market analysis also reveals a correlation between Bitcoin's price stability and movements in tech-heavy indices like the Nasdaq, which rose 0.7% to 19,500 points on June 17, 2025. This suggests that positive sentiment in tech stocks could spill over into crypto, particularly for Bitcoin and Ethereum (ETH), which often mirror risk-on behavior in equities. Trading pairs like BTC/ETH also show relative strength, with ETH gaining 1.2% against BTC in the 24 hours leading up to 12:00 PM UTC on June 18, 2025, potentially offering arbitrage opportunities. Moreover, on-chain metrics such as Bitcoin's exchange inflows dropping by 15% over the past 48 hours point to reduced selling pressure, supporting a bullish case for a bounce from $104,000.

Diving into technical indicators, Bitcoin's 4-hour chart shows a clear rejection at $104,000, with the Relative Strength Index (RSI) hovering at 48 as of 1:00 PM UTC on June 18, 2025, indicating neutral momentum but room for upward movement if buying volume increases. Trading volume spiked by 25% during the sweep at 10:00 AM UTC, reaching approximately 12,000 BTC traded on Binance alone, underscoring the significance of this level. The 50-day moving average, currently at $102,500, provides additional support, while resistance looms at $106,000 based on prior price action. Cross-market correlations remain evident, as Bitcoin's price movements have shown a 0.6 correlation coefficient with the S&P 500 over the past week, calculated as of June 17, 2025. Institutional money flow also appears to be shifting, with reports of increased inflows into Bitcoin ETFs like the Grayscale Bitcoin Trust (GBTC), which saw $50 million in net inflows on June 17, 2025, reflecting growing confidence among larger players. For traders, key levels to watch include a break above $104,500, which could signal a continuation to $106,000, or a drop below $103,500, potentially targeting the 50-day moving average. Sentiment in the crypto market remains cautiously optimistic, with fear and greed indices shifting from 'fear' at 35 to 'neutral' at 50 within 24 hours as of 2:00 PM UTC on June 18, 2025. These data points collectively suggest that while risks remain, the current setup at $104,000 offers a compelling risk-reward ratio for disciplined traders who can navigate the interplay between crypto and traditional markets.

FAQ Section:
What does the sweep of $104,000 mean for Bitcoin traders?
The sweep of $104,000 on June 18, 2025, indicates a critical price level where significant buying and selling activity occurs. It suggests that stop-loss orders were triggered, flushing out weaker positions, while the presence of a passive buyer points to potential accumulation. Traders should watch for confirmation of support or resistance at this level before entering positions.

How does stock market performance impact Bitcoin's price action?
Stock market performance, such as the S&P 500's 0.5% gain on June 17, 2025, often influences risk appetite in crypto markets. A stable or rising equity market can drive capital into Bitcoin as investors seek higher returns, while a downturn may lead to risk-off behavior, pressuring BTC prices downward. Monitoring correlations between indices like the Nasdaq and Bitcoin is essential for cross-market trading strategies.