$BTC Bitcoin (BTC) is currently trading around $92,114, experiencing a slight dip after peaking near $94,696 earlier this week. Despite this minor pullback, BTC has surged approximately 25% from its April lows, driven by institutional investments and easing macroeconomic tensions, such as President Trump's indications of reduced tariffs on China and assurances regarding Federal Reserve leadership .
Institutional interest is further evidenced by the launch of Twenty One Capital, a $3.6 billion Bitcoin acquisition venture backed by Cantor Fitzgerald, SoftBank, Tether, and Bitfinex, making it the third-largest global holder of BTC . Additionally, BlackRock's iShares Bitcoin ETF (IBIT) received the “Best New ETF” award, coinciding with a significant $643 million inflow, highlighting growing institutional confidence .
Technically, Bitcoin has broken out of a four-month falling wedge pattern and closed above its 200-day moving average, with the Relative Strength Index (RSI) above 50, indicating bullish momentum. Key resistance lies at the psychological $100,000 level, while support is observed around $85,000 .
Analysts suggest that if current trends continue, BTC could target the $107,000 mark, though caution is advised due to relatively low trading volumes, reflecting cautious investor sentiment.