Bitcoin Reaches All-Time High Daily Close of $106,830
Bitcoin (BTC) reached a record daily closing price of $106,830, according to TradingView data, with the latest candle closing on Tuesday (UTC). This surge follows increased investment in spot exchange-traded funds (ETFs) amid concerns over the fiscal health of major economies, including the U.S.
Key points include:
- Growing demand for BTC and gold due to worsening fiscal debt situations.
- The Coinbase Bitcoin Premium Index indicates ongoing buying pressure from U.S. investors.
- The next critical resistance level is $110,000, where substantial negative gamma exposure exists among dealers.
- Potential breakout above $110,000 could accelerate the current rally.
- The options market has significantly expanded, contributing to volatility.
