📌 Market Update: the price of Bitcoin ($BTC ) is around $105,000, with a slight pullback after the recent high near $110,000.
Favorable factors include inflation below expectations, speculation on rate cuts by the Fed, and continued entry of institutional investors (ETFs, companies on the balance sheet).
On-chain indicators such as MVRV, Pi Cycle Top, and RSI do not show signs of structural euphoria: according to CoinGlass, the market is still in a bullish phase, with possible targets between $135,000 and $230,000.
Geopolitical tensions (e.g., Middle East) are not lacking, which caused a brief pullback below $108,000.
I am closely monitoring the range between $106,000 and $107,000 as a key support, waiting for confirmations.
