Bitcoin’s price soared to $108,182 on major exchange Bitstamp, registering a nearly 2% daily gain and recovering approximately $10,000 from recent lows. This surge signals potential for renewed upward momentum toward all-time highs, underscoring robust buying interest despite prevailing geopolitical uncertainties.
Technical analysis identifies strong support near $106,500 and resistance around $109,000. Analyst Matthew Hyland noted bullish dominance, with Bitcoin’s breakout from the Ichimoku Cloud’s Kumo Cloud suggesting a path toward $111,000 pending clearance of the Fair Value Gap (FVG). The liquidation of high-leverage positions contributed to this upward momentum.
Geopolitical risks, particularly potential NATO-Russia tensions, pose challenges to sustained market stability. However, cautious optimism persists in traditional markets, reflected in gains for the S&P 500 and Nasdaq Composite Index.
The liquidity grab at $108,000 reinforces bullish sentiment, though traders remain vigilant to macroeconomic factors and geopolitical developments that could trigger volatility.