BTC Surges 2.29% on Binance as Institutional Interest Grows and ETF Hopes Spark Bullish Signals

In the past 24 hours, BTCUSDT has risen by 2.29%, opening at 107,739.83 and currently trading at 110,212.21 on Binance. The price increase is attributed to a combination of factors, including heightened trading activity (with Binance reporting 18,584.50 BTC in volume), renewed institutional interest, and optimism surrounding potential regulatory developments such as the SEC's consideration of Grayscale's Bitcoin fund ETF conversion. Technical analysis points to a possible bullish reversal, with analysts highlighting an inverse head and shoulders pattern and tightening Bollinger Bands, suggesting an imminent breakout. However, mixed market signals persist, with resistance near $109,200 and ongoing volatility amid broader macroeconomic concerns like U.S. tariff tensions and notable ETF outflows. Overall, Bitcoin’s market capitalization remains strong at over $2.12 trillion, reflecting robust investor engagement and a positive short-term outlook.