Market analysis points to Bitcoin price consolidation around $104,000–105,000, after a pullback from the all-time high of over $111,000 reached in May. This move is attributed to a combination of factors, including former President Trump’s recent statements on trade tariffs and a slight reduction in inflows into Bitcoin ETFs.

Technically, Bitcoin is facing resistance in the $105,000–106,000 area, and a daily close above this level could pave the way to $108,000. Otherwise, a rejection could lead to a decline towards the psychological support of $100,000.

Regarding the medium-term outlook, analysts remain bullish, anticipating a possible rise in Bitcoin price towards $120,000, supported by continued accumulation from institutional investors and large wallets.