Bitcoin News Update – Bullish Momentum Building Toward $105,000?
Current Price: ~$104,200 (as of latest data)
Bitcoin is showing strong signs of entering a new bullish phase, fueled by a mix of macroeconomic relief, institutional confidence, and technical indicators aligning for upward movement.
Key Drivers:
1. US-China Trade Reset: Trump’s announcement of a full restart in US-China relations has sparked a global market rally. Risk assets like Bitcoin are benefitting from renewed investor confidence, as the Nasdaq and S&P 500 both surged over 3%.
2. Institutional Buying: Strategy (MSTR) recently purchased 13,390 BTC worth $1.34 billion, showing sustained belief in Bitcoin’s long-term value. The firm now holds over 568,000 BTC.
3. Market Structure & Liquidations: Bitcoin briefly dipped near $100K, triggering $448M in long liquidations—clearing overleveraged positions. Now trading around $104,200, it's positioned just below a key liquidation zone at $103,772. A breakout could trigger short squeezes, propelling BTC toward the next psychological level: $105,000.
4. On-Chain & Technical Signals: PlanB reports that Bitcoin's RSI sits at 69, historically a precursor to major rallies. In previous cycles, RSI breaking above 80 often led to 40%+ gains over a 4-month span.
5. Net Inflows & Positioning: A net inflow of +$200M into Bitcoin shows continued demand. Meanwhile, top tokens including BTC and ETH are seeing outflows from perpetual markets—suggesting traders are positioning for upward momentum.
Outlook:
With a confluence of bullish signals, Bitcoin appears primed for a potential push toward $105,000 in the short term. Traders should remain cautious with leverage, but structurally, BTC is showing signs of strength and accumulation.
Stay tuned for tonight’s US CPI release at 20:30 (UTC+8), which could inject fresh volatility into the market.
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