BTC/USDT is currently trading at $107,116.23, showing a +1.46% gain in the past 24 hours. The price had recently peaked at $108,952.38 before experiencing a pullback, with the daily low touching $104,980.37, suggesting increased volatility. The short-term trend remains bullish with higher highs and higher lows, but recent red candles indicate a correction phase after the sharp rally. Bitcoin has fallen below its 7-day MA ($108,110.71) and is now testing the 25-day MA ($107,053.35) as potential support. If this level holds, a rebound may follow, but further downside could lead the price closer to the MA(99) at $105,625.84. The RSI sits at 34.01, which is approaching oversold territory, implying that bearish momentum is growing but a potential short-term bounce could be on the horizon. Trading volume remains strong at over 681 million, with bullish sentiment still evident in the broader picture. Despite today’s dip, Bitcoin maintains solid gains over the longer term, including +4.05% in the past 30 days, +30.87% over 90 days, and a remarkable +60.85% over one year, indicating continued investor confidence in BTC's long-term trajectory.

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