📉 Current price and recent pullback
Current price: **$108,581**, with a decline of 2.6% in the last 24 hours.
Recent all-time high: **$111,970** reached on May 22.
Intraday range: between $108,322 and $111,819.
This 2.6% pullback comes after a significant rise driven by factors such as the approval of the GENIUS bill in the U.S. Senate, which regulates stablecoins, and JPMorgan's announcement to allow its clients to buy Bitcoin.
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🧠 Factors influencing the drop
1. Announcement of tariffs by the U.S.: President Donald Trump announced a 25% tariff on iPhones made abroad and 50% on imports from the EU, creating uncertainty in the markets.
2. Options expiration: Today, over $3.3 billion in Bitcoin and Ethereum options are set to expire, which could increase volatility.
3. Profit-taking: After reaching new highs, some investors are taking profits, contributing to the downward pressure.
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📊 Technical analysis and key levels
Immediate support: **$107,000**, with strong psychological support at $100,000.
Recent resistance: **$111,970**, the all-time high reached on May 22.
Technical analysis shows a possible formation of an "ascending wedge", which could indicate a reversal if a breakdown is confirmed.
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🔮 Future outlook
Despite the current correction, the long-term outlook for Bitcoin remains positive, driven by institutional adoption and favorable regulatory developments. Bernstein analysts project that Bitcoin could reach $200,000 by the end of 2025.
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🎯 Conclusion
The current drop in Bitcoin appears to be a technical correction in the context of a long-term bullish market. Investors should monitor key support levels and stay alert to macroeconomic and regulatory developments that may influence market direction. $BTC
