According to recent data, Bitcoin is trading at $105,100, showing a slight decline of 0.22% over the last 24 hours. This report highlights current market trends and the influence of geopolitical events.
Price Dynamics of Bitcoin
On June 14, Bitcoin experienced slight fluctuations, remaining within the range of $104,220 to $106,135. During Asian trading hours, significant buying and selling activities were observed, leading to a temporary drop below $104,200, but the price quickly rebounded.
Impact of Geopolitical Factors
The recent price volatility of Bitcoin was partly driven by events in the Middle East. Increased risk from the conflict between Israel and Iran, along with tensions in U.S. trade relations with several partners, led to a surge in activity in the cryptocurrency market. Following initial reports, over $1.1 billion was liquidated across the global crypto market.
> “Despite the liquidations, Bitcoin shows signs of recovery, suggesting that some investors see it as a safe haven,” noted a market analyst.
Technical Analysis and Projections
In the medium term, investor optimism remains high, even amid short-term declines. Bitcoin continues to form higher low levels, with the $105,000 mark becoming a key support level. Trading volume has increased as Bitcoin approaches the $106,000 mark, with a recorded trading range of $2,090 over the last 24 hours and a volume of 15,342 Bitcoins aiding recovery.
> “The trend of rising low levels continues, and maintaining the psychological support at $105,000 is crucial. Short dips below this level tend to be brief,” commented a technical analysis expert.
In the coming days, Bitcoin may attempt to climb above the $106,200 level if support around $104,950 is maintained. Market outcomes continue to depend on news flow and technical data, as geopolitical factors and global trade relations exert influence on the cryptocurrency market.
