$BTC Currently, the price of Bitcoin (BTC) is trading around 104,406 USD, with a daily trading range from 101,218 USD to 105,220 USD. After reaching a historical peak of nearly 112,000 USD, BTC has adjusted by about 7% due to profit-taking pressure and concerns about the macro environment, such as the reinstatement of some tax levels in the U.S. and rising bond yields.

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📉 Short-term technical analysis

• Important support level: ~102,700 USD. If this level is broken, the price may drop further to the range of 97,000 – 93,000 USD.

• Resistance levels: 105,000 USD and 110,000 USD. If these levels are surpassed, BTC could aim for 115,000 – 118,000 USD in June.

• Market signals: Selling pressure from long-term investors is increasing, while retail investors continue to accumulate. However, the lack of support from large investors could cause BTC's price to drop below 100,000 USD if the support level of 102,734 USD is not maintained.

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📈 Factors supporting an upward trend

• Institutional cash flow: Companies like MicroStrategy and GameStop continue to buy BTC, reinforcing confidence in this asset.

• Strong accumulation: Over 66,975 BTC (equivalent to 7.2 billion USD) has been withdrawn from exchanges, indicating strong accumulation trends from investors.

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⚠️ Risks to note

• Profit-taking pressure: With unrealized gains of nearly 40%, many investors may take profits, causing short-term downward price pressure.

• Market sentiment: Investor sentiment is becoming more cautious, with the Fear & Greed Index showing a cooling off after a strong previous rally.