Here’s the latest on Bitcoin (BTC):
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📈 Price & Market Highlights
Bitcoin is currently trading around $107,238—a slight dip from yesterday’s high near $108,146.
The price has surged above $108K recently but remains roughly **4% below its all-time high (~$112K reached in May 2025)** .
Institutional interest remains strong: spot BTC ETFs have seen over $547 million in inflows for 12 consecutive days, fueling momentum .
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🔑 Key Drivers Behind the Move
1. Easing geopolitical tensions—notably reduced turmoil in the Middle East following a truce between Iran and Israel—have boosted risk appetite, pushing BTC higher .
2. Dollar weakness, as the U.S. Dollar Index nears a one-year low amid concerns over tariffs and Federal Reserve policy, has enhanced Bitcoin’s appeal as an alternative asset .
3. Legislative clarity—including U.S. Senate action on stablecoin regulation and capital-market-friendly crypto policies—has fostered confidence .
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🎯 Technical & On‑Chain Outlook
A frequent "bullish engulfing" pattern has emerged on daily charts—a signal that in bull-market conditions precedes new price highs approximately 78% of the time .
Analysts suggest that a sustained flip of the $108K–$110K level into support, a rebound in on-chain transfer volumes, and stronger MVRV ratios could pave the way toward breakout territory above $112K .
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🚀 Price Target Potential
Several analysts are eyeing a move toward $120K, citing reduced BTC outflows from major exchanges like Binance and positive technical trends .
However, a pullback to the 50-day EMA—now in the $103K–$104K range—could test lower levels if risk triggers appear .
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🕒 Watchlist this Week
Sustained support above $108K–110K
ETF inflow trends continuing post the 12‑day streak
Macro news: any changes to the Iran–Israel situation or U.S. Dollar dynamics
Regulatory moves, like implemented stablecoin laws or asset-class recognition