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Tennie Torngren
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Bitcoin's current price is $103,566.59, with a 1.65% increase, reaching a high of $104,976.25 and a low of $101,429.70. The market capitalization stands at $2.08 trillion. Recent Trends Bitcoin's recent rally has been fueled by favorable macroeconomic conditions, including a potential US-China trade deal and declining inflation rates. However, traders are locking in profits ahead of the US Consumer Price Index (CPI) release, causing a slight dip in Bitcoin's price. Expert Analysis According to Bitfinex analysts, if macroeconomic conditions remain supportive, short-term dips will likely be absorbed quickly, keeping Bitcoin's bullish outlook intact. They predict a potential new leg toward fresh highs, with cycle targets of $150,000 to $180,000 in 2025-2026 ¹. Market Sentiment Santiment's Network Realized Profit/Loss metric shows that Bitcoin holders are booking profits after a massive gain of over 10% in the previous week. This profit-booking activity is likely driven by the upcoming US CPI release, which could inject fresh volatility into the market ¹. Key Support and Resistance Levels - Support: $98,500 - Resistance: $104,000 - $106,000 - Potential upside target: $110,000 and beyond $BTC
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