BTCUSD Climbs on Ceasefire Hopes, Eyes $109K Level

Bitcoin (BTCUSD)

Fundamental Analysis

The upside momentum was driven by Middle East ceasefire news and capital rotating back into altcoins, with WIF surging +24%.

The Fear & Greed Index returned to neutral, reflecting cautious investor sentiment. However, technicals suggest a potential breakout as the medium-term uptrend structure remains intact.

On the macro front, Australian police warned of a rise in Bitcoin ATM scams, particularly targeting elderly victims — highlighting security concerns that continue to weigh on broader public confidence.

Technical Analysis

BTC has broken out from the strong support zone at $102,374 – $105,281 and is now approaching a nearby resistance area.

The price structure is forming higher lows, with BTC currently testing the previous high near $109,356.Volume surged at the $98,240 bottom, confirming strong buying interest. It has remained elevated during the recent rally, indicating that capital inflows are still supporting the uptrend.

 

 

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