The current BTC market is at a critical juncture. From a technical perspective, the price is oscillating in the range of $105,000 - $108,000, with short-term moving averages entangled and direction unclear. On the news front, a European Bitcoin giant plans to reserve over $11 billion in Bitcoin, which is clearly a positive development. However, regulatory policies remain unclear, posing uncertainties. Overall, the battle between bulls and bears is intense, and attention should be paid to the breakthrough situation at the key level of $106,000. If it can effectively break through, it is expected to challenge $110,000.