Bitcoin Faces Key Support Retest at $106,800 Amid Price Volatility

Bitcoin (BTC) has experienced a 2% price drop in the last 24 hours, currently trading around $107,700. This follows a recent rally that peaked at an all-time high (ATH) of $111,953, suggesting cautious investor sentiment.

Key Market Observations

Bitcoin dropped from $110,000 to a low of $107,107 before stabilizing.
Over the past month, BTC has rallied by 15% and recovered about 50% from April lows.
The current trading range is between $106,800 and $109,700.
Analysts suggest potential volatility ahead due to upcoming Federal Open Market Committee (FOMC) minutes.
Technical patterns indicate a possible symmetrical triangle formation, with breakout targets suggesting a further 30% increase.
ETF inflows have increased, marking significant interest but raising concerns about price sustainability without corresponding upward movement.
A breakdown below $106,800 could lead to increased volatility, targeting support at approximately $102,700.

Current BTC price indicates a 1.6% decrease over the week. Investors are monitoring market conditions closely, particularly regarding ETF performance and potential volatility triggers.