Bitcoin (BTC) has surged past the $100,000 mark, currently trading at $102,731, reflecting a 6.3% increase from the previous close. This rally is attributed to renewed investor confidence following the announcement of a U.S.-U.K. trade agreement, which has positively impacted both crypto and equity markets .
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Market Insights:
Resistance Levels: Analysts identify key resistance at $106,500, with support around $93,780. A drop below $93K could see BTC retreat to the $80K range .
Institutional Interest: Standard Chartered has raised its Q2 price target to $120,000, citing increased institutional inflows and regulatory support .
Long-Term Projections: Binance founder Changpeng Zhao predicts Bitcoin could reach up to $1 million in this cycle .
Next Steps:
Monitor Market Sentiment: Keep an eye on global economic developments and regulatory news, as they can significantly impact Bitcoin's price.
Stay Informed: Use platforms like CoinMarketCap and CoinGecko for real-time updates and market analysis.