Here's the latest Bitcoin news:
*Current Price:* Bitcoin is trading at $108,880.02, with a slight decrease in the last 24 hours. The cryptocurrency has been consolidating around $108,000 after an unsuccessful attempt to break through the resistance near $111,000.
*Market Trends:*
- *Institutional Investment:* Bitcoin whales are accumulating more BTC, indicating confidence in the market. According to Material Indicators, large-volume traders are adding to their positions, which could support the price.
- *Potential Correction:* Analysts warn of a possible correction, with support levels at $106,406 and $94,000. If a correction occurs, it might be a healthy consolidation before the next rally.¹ ²
*Recent Developments:*
- *Trump Media Deal:* Donald Trump's media company announced a $2.5 billion Bitcoin treasury deal, which could boost market sentiment.
- *El Salvador's Bitcoin Holdings:* The International Monetary Fund (IMF) is monitoring El Salvador's Bitcoin holdings, ensuring the country doesn't accumulate more BTC without careful consideration.
- *Bitcoin Conference:* The Bitcoin 2025 conference is taking place in Las Vegas, featuring prominent speakers, including Vice President JD Vance.³ ⁴
*Expert Insights:*
- Edul Patel, Co-founder and CEO of Mudrex, believes Bitcoin is in a re-accumulation phase, with steady buying interest maintaining bullish momentum.
- Vikram Subburaj, CEO of Giottus Crypto Platform, expects a breakout above $110,000 if Bitcoin holds above $109,000.⁵ ⁶
