Bitcoin Price Rebound: Bulls Fight Back Above $105K
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Bitcoin's price has surged above $105,000 following a sharp rebound triggered by a ceasefire announcement between Israel and Iran. This geopolitical relief boosted risk assets, with BTC reclaiming a crucial psychological level and eyeing a potential breakout above $110,000. The recovery follows days of volatility and fear, where BTC dipped to $98,200 amid Middle East conflict. On-chain data reveals a significant spike in Taker Buy Volume, indicating strong conviction from aggressive market participants, likely institutional investors. This suggests a bullish sentiment and potential positioning for further upside. However, uncertainty remains. Bitcoin is currently trading in a tight range after failing to surpass its all-time high, leaving analysts divided on its near-term direction. Geopolitical instability and macroeconomic tightening, including the Fed's stance on interest rates, continue to influence market sentiment. Despite this, buyers have demonstrated resilience, defending key moving averages. A key bullish signal is the heavy spike in Taker Buy Volume, indicating aggressive buying orders. While positive, Bitcoin needs to reclaim the $109,000–$112,000 range to negate the risk of a broader correction. A daily close below $103,600 support or a loss of the $100,000 level could trigger liquidations. Conversely, maintaining above $105,000 with increasing volume could pave the way for further gains. A 12-hour chart shows a strong bullish reaction after a brief dip below the $103,600 support. The price rebounded, reclaiming key moving averages and trading around $105,357. This highlights the $103,600 zone as a high-demand area. Increased volume during the bounce suggests whales and institutional buyers absorbed panic selling. The price is approaching the $109,300 resistance, a key ceiling from May and June. The short-term outlook is positive as long as Bitcoin stays above moving averages, but rejection near $109,000 might indicate consolidation. Bulls flipping $109,300 into support could lead to a retest of all-time highs.
