$BTC Here's a short update on BTC for Binance Square, keeping in mind the current date (July 8, 2025):

BTC Update: Navigating Resistance as Bulls Eye Dips!

Bitcoin has seen some volatility recently, facing resistance around the $110,500 mark. However, on-chain analysis and chart patterns suggest that bulls are still actively buying the dips, indicating continued underlying strength.

Recent developments include:

* A "cup and handle" breakout pattern signaling a potential target of $230K.

* New partnerships and DeFi initiatives leveraging Bitcoin-backed stablecoins, expanding BTC's utility within the ecosystem.

* Continued institutional interest, with major players like BlackRock shifting towards crypto advocacy.

While short-term fluctuations are expected, the medium to long-term technical analysis remains positive, with rising trend channels. Keep an eye on key resistance levels and global economic factors, as they continue to influence the market.

What are your thoughts on BTC's next move? Share in the comments! 👇