$BTC
Bitcoin is currently trading around $107,777, slightly down after touching an intraday high near $110K.
đ What's driving BTC today?
Near-record highs: Bitcoin recently surged to approximately $110Kâ$110.5K, approaching its all-time highs from late May .
Macro tailwinds: Lower inflation figures (May CPI ~2.4%) have increased hopes that the Fed may eventually cut interest ratesâboosting risk assets like crypto .
Institutional flows: Spot ETF assets have grown from $91B in April to $132B now, showing strong institutional support .
đ Support and resistance
Support levels: Around $107K and $100K remain key zones .
Resistance watch: The next big barrier lies near $112K, Bitcoinâs recent peak .
đ Market outlook
Analysts highlight a bullish technical setup, including a golden cross on moving averages, signalling likely upside momentum. The bull case sees a possible rise toward $137K if $112K is convincingly broken .
đĄ Bottom line: Bitcoin remains in a strong uptrend, fueled by macroeconomic optimism and institutional adoption. But traders should keep an eye on inflation reports and Fed cuesâplus the $112K level for signs of breakout or a pullback.
