$BTC
Bitcoin Market Update
Bitcoin is currently trading between $105K and $106K, showing signs of consolidation after recent volatility. The price is holding firm above key support levels at $104.8K, with resistance forming near $106.5K. Technical indicators like MACD and RSI suggest momentum is cooling, possibly leading to a breakout or breakdown in the coming days.
On the macro side, Bitcoin remains resilient amid global uncertainty and shifting U.S. political dynamics. Institutional support continues to grow, with companies like MicroStrategy maintaining strong holdings. Regulatory sentiment is improving, as seen in favorable developments like Texas' Bitcoin reserve law and growing U.S. federal interest.
The bull case suggests a push toward $120K if volume increases and market sentiment remains positive. Conversely, a drop below $100K could trigger a deeper correction, possibly toward $91K. For now, Bitcoin stands at a critical juncture — watch closely.
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