Bitcoin is trading at $105,432, with a trading volume of $16 billion in the last 24 hours and a total market value recorded at $2.09 trillion.

While news flows about stablecoin projects from major companies like Amazon, Walmart, and JPMorgan continue, this stability in Bitcoin's price is noteworthy.

Retail Giant in the Stablecoin Race

Amazon and Walmart are continuing their work on stablecoin projects tied to the US dollar. These digital tokens aim to reduce transaction costs, speed up payments, and eliminate some layers of the traditional banking system.

Additionally, the GENIUS Act bill being discussed in the US Congress could bring legal regulation to this process, increasing institutional interest. Financial giants like Wells Fargo, Citigroup, and JPMorgan are considering the idea of issuing a common stablecoin.

The existence of over 251 billion dollars in capital in stablecoins like USDT and USDC indicates that this area is rapidly institutionalizing, which may somewhat limit demand and trading volume for Bitcoin in the short term.

SharpLink’s $463 Million Major Ethereum Investment

Corporate Ethereum purchases are also gaining momentum. SharpLink Gaming made an investment of approximately $463 million by purchasing 176,271 ETH with funds sourced from Nasdaq. The average purchase price per token was recorded as $2,626.

More than 95% of the acquired ETH is staked, providing both yield and supporting the security of the Ethereum network. SharpLink CEO Rob Phythian described this investment as a 'turning point in institutional adoption', while Joseph Lubin, one of Ethereum’s founders, supports this strategy.

Unlike MicroStrategy’s Bitcoin-focused strategy, SharpLink’s move could strengthen Ethereum’s corporate reputation and create a temporary shift in interest away from Bitcoin in the short term.

The Impact of Geopolitical Tensions on Crypto

Tensions between Iran and Israel have led to sharp fluctuations in the crypto markets. After Bitcoin's price dropped from $110,000 to $102,513, it showed limited recovery around $105,000.

While $446 million worth of BTC long positions were liquidated in the last 24 hours, Ethereum and XRP had to resist at critical support points.

Known as 'digital gold', Bitcoin lagged behind volatile tech stocks in this mobility, while the price of gold rose due to investors seeking safe havens. During the same period, a slowdown in entries into Bitcoin and Ethereum ETFs was observed.

Nonetheless, as long as institutional purchases continue, the risk of Bitcoin falling below 100,000 dollars currently seems low.

Bitcoin Technical Analysis: Critical Consolidation at $105,000

Bitcoin, which fell to $102,817 at the beginning of June, then formed an upward trend line and provided strong support.

On the 2-hour chart, the price is moving between $104,643, the 23.6% Fibonacci retracement level, and $105,772, the 38.2% Fib level. The 50-period EMA ($105,940) stands out as upper resistance.

The formation of the Doji candlestick pattern indicates that the market is indecisive, while momentum indicators are giving slightly positive signals. As the MACD line approaches the signal line, the negative histogram is shrinking. There are no strong bearish signals like 'Three Black Crows' and the 'spinning top' candlestick pattern indicates horizontal consolidation.

Important Levels and Possible Trading Scenarios

Upward scenario:

Trigger for purchase: $105,772 and closes above the 50-EMA.

Stop-loss suggestion: below $104,500.

Target prices: $106,685 (50% Fib) and $107,598 (61.8% Fib).

Downward scenario:

If the price falls below $104,600, the main support at $102,817 may be tested.

These levels are critical points that bulls and bears will pay attention to in the short term and may be decisive for Bitcoin's direction.


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