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📈 Price Snapshot & Key Levels
Current price: ~$105,006
Today’s trading range: ~$104,300–106,097
Important technical levels:
Support: $103,200–104,000 (previous support zone)
Resistance: $105,600–106,000 (EMA/Ichimoku cluster), next at $110,000–112,000
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🔍 Market Drivers
1. Profit-taking & Technical Pullback
BTC recently broke down from the $106K Fibonacci/EMA region, hovering near $104K. RSI (~37) and MACD indicate short-term bearish tension .
2. Geopolitical Risk
Middle East tensions triggered a short-term risk-off move, pulling BTC briefly below $106K—though within “normal” correction parameters (~3–5%) .
3. Institutional Flows & Macro Tailwinds
Spot ETF assets recently surged from $91B to $132B, reflecting sustained inflows .
US–China trade progress continues to buoy risk assets, similarly impacting BTC .
4. Macro Outlook
Investors are eyeing the upcoming U.S. inflation and jobs data. Optimism around Fed rate cuts could propel BTC toward $120K–125K by June end .
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🧭 Analyst Take
Bullish Scenarios:
Break above $107.5K–110K could open runway to $112K, then **$120K+** .
Long-term upbeat sentiment: Cathie Wood eyes $1.5M by 2030; Tom Lee targets $150K by year-end .
Cautious/ Bearish Warnings:
Cointelegraph flags a potential “bull trap” fractal—could dip below $100K in deeper correction .
FT warns of speculative bubbles in Bitcoin-related shares and warns meltdown may lie ahead .