Today's Crypto Market Analysis –
Today, Bitcoin (BTC) touched a record high of nearly $124,000, but then fell under some pressure to about $117,300–$118,400, resulting in a slight decrease in price.
This volatility is attributed to unexpected U.S. inflation figures and disruptive signals regarding a potential Federal Reserve rate cut. Bitcoin recently set four historic highs, but each time was followed by a subsequent pullback — the intensity of the fluctuations has been steadily decreasing over the recent five to seven days.
From a technical perspective, Bitcoin is moving within an emerging bullish channel, with the holding support line between $112,000–$116,000, while the $123,000–$124,000 zone serves as resistance.
Fundamentally, U.S. government traditions, policies like the inclusion of crypto in retirement accounts, and the surge in institutional investment have empowered the market.
Summary:
Bitcoin has shown significant growth recently, but despite a better technical structure, the rate of emerging risks (inflation, regulatory uncertainty) has not diminished. In the current span, $116K–$118K support is critical, while $123K–$124K is a strong resistance zone.
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