Bitcoin is trading around $107,239 today, down roughly 2.1% from yesterday's close, with intraday highs near $110,277 and lows around $106,950. This slight dip follows a brief rally after softer-than-expected U.S. inflation data fueled hopes of Federal Reserve rate cuts. Nonetheless, analysts emphasize that Bitcoin’s journey toward fresh all-time highs, just shy of $112,000, remains intact. On-chain data shows dwindling BTC supply on exchanges, suggesting steady accumulation by institutions and long-term holders. Chart watchers point to key support near $107,000 and resistance in the $110,000 to $112,000 range, hinting at a potential consolidation phase before the next move. Overall market sentiment remains cautiously bullish amid growing institutional interest and improving macroeconomic fundamentals influencing cryptocurrency markets.
