Bitcoin price hits $105K as analysis eyes ‘massive’ Binance BTC withdrawals

💡 DMK Insight

Bitcoin’s bounce to $105,000 is promising, but traders should watch for resistance levels closely. The recent pattern of higher lows suggests bullish momentum, yet the looming resistance could trigger profit-taking or a reversal. If Bitcoin fails to break above this resistance, it might lead to a pullback, impacting not just BTC but also altcoins that often follow its lead. Traders should monitor the $100,000 level as a psychological support; a drop below this could signal a shift in sentiment. Keep an eye on trading volumes as well—higher volumes on the way up would indicate stronger conviction. Here’s the thing: while the bullish trend is intact, the market’s caution reflects broader economic uncertainties. If macroeconomic indicators shift, especially around interest rates or inflation, we could see volatility spike. So, watch for any news that could influence market sentiment, particularly around the $105,000 resistance level, as it could dictate the next move for Bitcoin and the crypto market overall.