$BTC Bitcoin has seen significant volatility recently, characteristic of the crypto market. While experiencing some dips, notably a $4K drop in 24 hours, it has shown resilience. This bounce back has been largely attributed to favorable US inflation data, including the Producer Price Index (PPI) and Consumer Price Index (CPI) coming in below expectations, which has weakened the US dollar and boosted risk assets like Bitcoin.

The overarching sentiment remains cautiously optimistic for Bitcoin. Analysts are eyeing new all-time highs before the end of June, with some targets as high as $116,000. Institutional engagement and capital deployment into digital assets continue to be a constructive macro condition, further solidifying Bitcoin's position in the broader financial landscape.

Furthermore, on-chain data points to a steady depletion of Bitcoin held on exchanges and OTC desks, suggesting long-term accumulation and tightening supply. This reduced liquidity, coupled with high open interest, creates a "tightly coiled" market, increasing the probability of sharp price movements as demand chases a scarcer asset.