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The BTC/USDT perpetual futures on Binance are currently trading at $107,703.40, reflecting a -3.39% decline for the day. Over the past 24 hours, Bitcoin's price has ranged between $106,721.90 and $111,555.40, with a total trading volume of approximately 279,597.818 BTC or $30.49 billion USDT, indicating substantial market activity. The current price is slightly below the MA(7) of $107,702.40 and significantly below the MA(25) of $109,338.50, suggesting short-term bearish pressure. The RSI stands at 36.4, nearing oversold territory, which could imply a potential reversal or consolidation phase. Despite today's drop, Bitcoin maintains a positive performance over the past 7, 30, and 90 days with gains of 3.46%, 15.09%, and 11.66% respectively. Additionally, the yearly performance remains strong at +58.72%, signaling sustained long-term bullish sentiment. Overall, while BTC/USDT perpetual futures are facing short-term selling pressure, the broader trend continues to show strength over longer timeframes.$BTC