In recent days, Bitcoin has fluctuated around $103,000–$106,000, experiencing alternating geopolitical pressures and support from institutional flows. A drop to $101,000 on Wednesday was followed by a rebound to $103,500 due to limited panic sentiment among retail investors.
Moreover, massive inflows into spot ETFs continued, with over $1 billion injected this week and net inflows of +$6.4 million for June 20 alone. Notably, BlackRock's IBIT ETF benefited from a wave of institutional confidence (+$47 million), while Fidelity's FBTC fund experienced withdrawals.
On the macroeconomic front, easing geopolitical tensions in the Middle East and anticipation of the Fed's tone are driving accumulation in the support zone of $104K–$105K. However, some analysts anticipate a possible drop, mentioning a retest down to $92,800, although a rebound seems likely via technical models (inverse Head-and-Shoulders).
Finally, the question of Bitcoin's role as a store of value vs. a risk asset persists: despite its fluctuations, institutional sentiment remains optimistic, as reflected in extreme forecasts (up to $330K in the long term) and the rise of BTC in corporate portfolios, combining optimism and caution.
