$BTC 📉 Market Overview

BTC is currently trading around $104,031, down about 3.45% from its previous close, with intraday movement between $103K to $108K.

Bitcoin has hovered in the $103K–$108K range since early June after peaking near $112K in late May .

Cooling U.S. inflation data (CPI and PPI) has steadied risk assets and given crypto a brief lift, although geopolitical tension—like the Israel–Iran conflict—prompted a short-term sell-off .

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🔍 Technical Insight & Sentiment

The 50 -day simple moving average (~$103,150) is now a critical support level. A drop below it may trigger more selling, while holding could stabilize prices .

Short-term options skew indicates growing demand for downside protection, signaling cautious sentiment among traders .

Technical analysts highlight key resistance at $112K, with upside targets extending to $137K—a bullish breakout scenario .