Bitcoin’s Resilience Faces Demand Drought: What Lies Ahead?

Key Points

1. Bitcoin's price stands at $109,264, with recent trade agreements in Vietnam supporting its rise over the past 24 hours.

2. Bitfinex researchers suggest Bitcoin may see short-lived upward movements but is more likely to remain within a certain range without new demand catalysts.

3. The $94,000-$99,000 range is identified as a crucial support level, with no significant risk of a breakdown currently.

4. Macroeconomic recovery, robust fund inflows, or global developments could act as catalysts for Bitcoin's price movement.

5. Investors are advised to track external developments that might affect the market, as volatility and risk remain factors.