Bitcoin ($BTC )

Current price: approximately $118,166, slightly up from the previous close, within a daily range of $117,268 and **$118,472**.

Fundamental drivers:

Despite reaching a new record high near $124,533, the price quickly retreated, suggesting a "bull trap" signal.

It faces strong resistance around $120,000 according to some analyses.

Technical analysis:

The price is currently retreating towards a key support area at $118K, which is critical to maintaining the upward trend.

The overall daily trend remains positive, with "buy" signals on multiple time frames according to Investing.com.

Future predictions:

According to a cyclical model, it may rise to between $125K–$131K by the end of 2025.

Additionally, other forecasts suggest a "grand gamble" with a future price near $200K, driven by ETF inflows and global liquidity expansion.

Moreover, decisions from major investors like MicroStrategy may help support the price.

Quick overview: Bitcoin is testing critical support at $118K after a strong upward wave. If this level proves its strength, it may resume its rise towards $125K+. However, a downward breach could open the door for a broader correction.

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