Bitcoin Price Retraces to $94,340 Amid Renewed Bullish Sentiment

Bitcoin (BTC) approaches the $100,000 mark, recently reaching about $97,800 before dipping to around $94,340, a 0.4% decrease in 24 hours, according to CoinGecko.

Market Sentiment

Key points include:

Bitcoin fell to $74,000 in April but is showing renewed optimism for an all-time high.
Analyst Doctor Profit predicts Bitcoin will not drop below $100,000 within a year.
Bitcoin increased over 25% since hitting $77,000, breaking key resistance at $85,000.
US-listed ETFs saw nearly $1 billion in net inflows last week, indicating strong institutional interest.
Bitcoin's liquid supply is decreasing as large buyers withdraw coins from exchanges.
Fidelity warns of a potential Bitcoin supply shock due to thinning reserves.

Future Outlook

Binance reports inquiries from governments about Bitcoin reserves, suggesting its recognition as a strategic asset. Analyst confidence remains high that Bitcoin could reach $100,000 and potentially set new highs after this week's Federal Open Market Committee meeting.

Bitcoin