"A pause within a large movement" — this is how the current situation in the Bitcoin market can be characterized. Despite recent fluctuations and geopolitical instability, analysts believe the trend remains bullish. The market is in a consolidation phase before a potential new rise.
This week, the price of Bitcoin fluctuated in the range of $103,000–$110,000. Technical analysis shows that the market structure remains bullish, despite high volatility. An important support level is $100,500, a breach of which could lead to a drop to $93,500. At the same time, a consolidation above $107,500 will open the way to target levels around $115,000.
Macroeconomic news, such as the decline in inflation in the U.S. and the easing of trade tensions between the U.S. and China, support positive dynamics. However, geopolitical risks and possible sanctions may cause short-term corrections. Overall, the potential for growth remains, and under favorable conditions, Bitcoin could test new highs.
