Bitcoin Surges Above $104,300 Amidst Nearly $1B in Liquidations
Global economic tensions and trade policy uncertainties are impacting cryptocurrency markets as Bitcoin recovers from a correction. Institutional interest continues with firms such as Strategy and GameStop acquiring BTC for their treasuries.
Technical Analysis Highlights
- A bottoming pattern is evident in the $103,200-$103,400 zone, indicating strong buying support.
- Recovery gained momentum after breaking above $104,000, supported by increasing volume.
- The correction appears complete, establishing a new support base for an uptrend.
- Bitcoin recovered from $104,146 to $104,303, showing bullish momentum at 14:01.
- Price increased from $104,188 to $104,323 on high volume (429 BTC traded).
- A consolidation range formed between $104,077 and $104,263, with support around $104,080-$104,090.