Bitcoin's Upward Trend Returns to Break Through Key Resistance Levels

Market Situation

· BTC fluctuates upward, stabilizing after a pullback to $104,848 on June 18

· $105,240 key support and resistance conversion point becomes the focal point of bulls and bears

· $108,900 historical high forms a pressure zone, with the target pointing to $111,987 after a breakthrough

Core Driving Factors

· Continued inflow of institutional funds, with BlackRock increasing its holdings by 6,000 BTC in one week

· Tax reform in Thailand and BBVA's allocation recommendations create favorable policies

· Technicals show a bullish arrangement, but trading volume has not yet effectively increased

· Options market: The premium rate for out-of-the-money call options rises to over 35%

Community Sentiment Index is 62.3 (bullish), down from the previous 76.8, with the market focusing on institutional holdings data and changes in Asian trading volume.