$BTC
Bitcoin Holds Steady Around $103,500 as Market Eyes Geopolitical Developments
Bitcoin is currently trading close to the $103,500 level as of Wednesday, after facing several unsuccessful attempts to break past the $105,000 resistance over the last four days. Investors are now turning their attention to the upcoming Ukraine-Russia peace discussions scheduled in Istanbul later this week. Positive outcomes from these talks could boost overall market sentiment, potentially acting as a tailwind for risk assets like Bitcoin.
On the technical side, Bitcoin's structure remains firm, with mildly positive funding rates suggesting improving trader sentiment. This is reminiscent of the favorable conditions observed during past bullish periods, such as between October 2023 and 2024. The steady price action and strengthening market indicators point toward a supportive environment for potential upward movement, provided macro events align favorably.
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