🔥Latest Bitcoin ($BTC ) Update‼️

💥Current Price and Market Overview

🔹️Current Price:

Bitcoin is trading around $107,578.35, with a slight decrease of 1.16% from the previous day's close of $108,842.

🔸️Market Capitalization:

Approximately $2.17 trillion USD.

🔹️24-hour Trading Volume:

Around $34.56 billion USD.

💥Recent Trends

🔹️Consolidation Phase:

Bitcoin is currently in a consolidation phase, with the price testing support levels. A drop below $104,000 could lead to further declines.

🔸️Resistance and Support Levels:

Immediate resistance is seen between $108,000 and $112,000, while critical support levels are $103,000 - $105,000.

🔹️Major Support*:

The 200-day moving average is at $97,600, with a bearish target of $85,000 in a worst-case scenario.

💥Market Sentiment

🔹️Whale Accumulation:

Bitcoin whales are slowing down their accumulation near the all-time high, raising caution among traders.

🔸️ETF Momentum:

Spot Bitcoin ETFs experienced a slowdown, but derivatives markets remain optimistic, driven by positive funding rates and strong demand for call options.

🔹️Institutional Investment:

MicroStrategy recently purchased $2.1 billion worth of BTC, bringing their total holdings to around $41 billion.