$BTC

Bitcoin is currently trading around $107,777, slightly down after touching an intraday high near $110K.

šŸ” What's driving BTC today?

Near-record highs: Bitcoin recently surged to approximately $110Kā€“$110.5K, approaching its all-time highs from late May .

Macro tailwinds: Lower inflation figures (May CPI ~2.4%) have increased hopes that the Fed may eventually cut interest ratesā€”boosting risk assets like crypto .

Institutional flows: Spot ETF assets have grown from $91B in April to $132B now, showing strong institutional support .

šŸ“Œ Support and resistance

Support levels: Around $107K and $100K remain key zones .

Resistance watch: The next big barrier lies near $112K, Bitcoinā€™s recent peak .

šŸ“ˆ Market outlook

Analysts highlight a bullish technical setup, including a golden cross on moving averages, signalling likely upside momentum. The bull case sees a possible rise toward $137K if $112K is convincingly broken .

šŸ’” Bottom line: Bitcoin remains in a strong uptrend, fueled by macroeconomic optimism and institutional adoption. But traders should keep an eye on inflation reports and Fed cuesā€”plus the $112K level for signs of breakout or a pullback.