$BTC

Bitcoin experienced a notable surge today, rallying above the $109,000 mark to its highest level since late May—gaining over 3.5% in the last 24 hours, driven by positive risk sentiment and renewed institutional interest . This breakout through key resistance has sparked optimism among traders, although analysts remain cautiously watchful for possible corrections .

A strong catalyst behind the rally is improving macroeconomic sentiment: cooling US inflation data, potential upside surprises in PPI, and eased trade tensions—especially encouraging developments in US‑China dialogues—all boosting appetite for risk assets . Additionally, historical patterns show Bitcoin often rebounds strongly—16% to 24%—after oil price-driven dips, suggesting room for further gains .

On-chain data shows increased institutional accumulation and declining exchange inventories, indicating that long-term holders are taking Bitcoin off the market . However, caution remains warranted: negative funding rates hint at a cautious sentiment and potential volatility ahead . Overall, today's surge reflects a potent mix of technical breakout, macro tailwinds, and structural demand.