Bitcoin, despite increasing geopolitical tensions and economic uncertainty, maintains its position in the market, bouncing back to around $107,000.
Technical Momentum in the Market
The weekly close at $104,500 suggests that bulls are defending the critical $100,000 mark. If support holds, this could lead to another price increase, possibly retesting previous all-time highs. The current BTC trading range between $102,000 and $112,000 indicates a price compression that often precedes significant volatility.
Market Liquidations and Top Movers
According to Coinglass data, liquidations in the market reached nearly $300 million over the past 24 hours. Bulls lost about $154 million, while bears took a hit of $124 million. Some altcoins showed mixed results, with notable gains in DeFi tokens like $AERO and $HYPE, while others such as Injective and Celestia underperformed.
Macroeconomic Factors and Investor Behavior
Bitcoin continues to be influenced by macroeconomic factors. With a Federal Reserve meeting on the horizon, markets are awaiting comments from Chair Jerome Powell. While a rate hike before September seems unlikely, the direction of future monetary policy remains uncertain. Meanwhile, rising oil and commodity prices amplify inflation fears, impacting investor behavior.
Despite global issues, such as airstrikes in the Middle East, the cryptocurrency market shows strong resilience, driven by institutional inflows, shrinking exchange supplies, and bullish technical trends.
