$BTC Today, Bitcoin is experiencing a cautious yet potentially bullish trend. Institutional interest remains strong, particularly through Bitcoin ETFs, which have bolstered Bitcoin's reputation as a hedge against inflation and geopolitical risks. Despite this, there has been some recent downward pressure due to ETF outflows. Technically, Bitcoin has bounced off its 200-day Exponential Moving Average, a significant indicator, suggesting it may be gearing up for a move higher. However, the market remains in a consolidation phase, with key resistance around $65,000. While the long-term outlook is positive, especially with the upcoming halving event, short-term price action could remain volatile【7†source】【8†source】【9†source】.