#BTC110KToday?

Bitcoin briefly touched $110,000 today before pulling back to around $107,000 due to a mix of global optimism, strong institutional demand, and technical momentum. The rally was supported by easing geopolitical tensions, especially talks of a ceasefire between Iran and Israel, which restored confidence in global markets.

At the same time, the weakening U.S. dollar encouraged investors to rotate into alternative assets like crypto and the on-chain data showed large whales and institutional players entering long positions, while Bitcoin ETFs continued to see steady inflows.

The U.S. Federal Reserve also hinted at possible interest rate cuts later this year, adding to the bullish momentum. Additionally, short liquidations helped push BTC past previous resistance levels as traders were caught off guard by the surge.

Despite reaching $110K, profit-taking quickly set in, leading to a correction back to the $107K range, where it currently consolidates.