Bitcoin has experienced a V-shaped recovery, surging to $103,000 and reclaiming a $2 trillion market valuation. The question now is whether this momentum can continue and push Bitcoin towards the $107,000 target. The recent recovery is attributed to a decrease in concerns surrounding DeepSeek AI. Technical indicators, such as the breach of the 200 EMA line and the formation of a morning star pattern, suggest a bullish trend. However, there has been a decline in institutional support for Bitcoin due to a downturn in U.S. tech stocks, with several Bitcoin ETFs experiencing outflows. Nonetheless, liquidations in the crypto market have reached $588.66 million, indicating volatile but bullish sentiment. Open interest and funding rates have both seen recovery, supporting the potential for an extended uptrend. A breakout above the 78.6% Fibonacci level at $103,393 would indicate a buying opportunity, with a target price of $107,123. Crucial support levels are at $100,000 and $98,611.



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