BTC/USD rebounds to trade above $9,500 after a brief dip

Michael van de Poppe, a crypto analyst tracking Bitcoin, sees the rebound from $8,949 setting up a run at $10,500. In recent tweets, he outlined what he expected: a reversal to $9,300 would come before a pullback to $9,000, where buyers have defended support. To break past the $10,500 resistance level, bulls need sustained buying pressure above $9,000, he said. The rally to $9,600 gives them room to consolidate near the top of the range, potentially setting up another test of $10,500.

Volume increased on the dip as investors bought in. An uptrend could emerge, but Bitcoin may correct lower around $9,800. Support at $9,300 to $9,000 should hold, though selling could resurface if buyers lose ground above $9,500.

The 4-hour chart shows Bitcoin hitting heavy resistance at $9,700-$9,880 on June 11. Anyone trying to break even should prepare for the same wall on the next attempt.

Nearly $930 million in Bitcoin options expire on June 26. Traders cite this as a potential brake on short-term gains. According to Skew, a derivatives data platform, over 100,000 contracts account for about 70% of total open interest, with $10,000 serving as the ceiling on recent upside. Open interest has doubled since April, topping $1.3 billion. Traders have clustered the highest open interest at $9,500, suggesting they expect Bitcoin to settle around that level.