The main reason for the return of Bitcoin's price to areas near support (~$103,000–$104,000) is due to several interrelated factors:

🧠 1. Technical factors

Bitcoin formed what resembles a double top near $110–112k, leading to a short-term correction towards support areas.

The upward trend line was broken near $106k–107k, resulting in negative pressure on the price and exiting the previous support range.

There are multiple support levels: such as the trend line, daily moving averages (EMAs) like 50 and 200, and psychological levels $100k and $102–103k.

🌍 2. External factors and overall market sentiment

Geopolitical tensions (such as the escalation in the Middle East) have increased market volatility and led to a sell-off in high-risk assets, including Bitcoin, pushing it into a support area.

The weakness of the US dollar and declining yields led investors to alternative assets like gold and Bitcoin as relative safe havens.

💼 3. Institutional liquidity and economic outlook

Despite the current correction, institutional flows into Bitcoin funds continue, especially after current ETF models surpassed $132 billion.

Improvements in some economic data (like inflation), and signals that the Fed may cut interest rates, have boosted confidence, allowing risky assets to return to growth after the decline.

🔍 Overall assessment

On the technical side: the price declined from resistance at ~$112k, and found technical support at ~$103k–104k according to technical models and averages, which prompted it to rebound.

On the fundamental side: geopolitical pressures and temporary market factors pushed the price down, but the return of liquidity and the emergence of positive economic signals provided support for a rebound at the support level.

✅ Summary

Bitcoin's return to areas near support (~$103–104k) is the result of interactions:

Factor Impact

Technical - Correction from resistances, trend lines, moving averages.

External Geopolitical pressure, weak dollar

Institutional Continued buying and increasing confidence from institutions

To stabilize and approach re-testing the peak of $112k, it depends on:

1. Price remaining above $103k.

2. Additional support from technical and institutional frameworks.

3. Calm geopolitical conditions or the introduction of new stimulating factors.

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