Bitcoin price support at $100,000 becomes the key level to defend
Bitcoin (BTC) is navigating a volatile macro environment, with bulls optimistic after a weekly close around $106,000. BTC/USD has shown resilience, maintaining its weekly open position and achieving its fourth consecutive weekly close higher. Analysts note that Bitcoin has broken a two-week downtrend and is challenging resistance at $106,600. Exchange order book liquidity is crucial, with significant focus on the $100,000 mark as a potential support level. Upcoming inflation data, including CPI and PPI, will influence market sentiment ahead of the Federal Reserve's interest rate meeting. Short-term holders are identified as a source of potential price volatility, particularly around the $106,200 level. Research indicates that the recent fallout between prominent figures like Trump and Musk may have led to increased market fear, but could also signal a potential reversal in BTC's price trend.
