Bitcoin Surges Past $107,000 — Poised to Break Its All-Time High?
TradingKey – Bitcoin has rebounded 1.6%, reclaiming the $107,000 level, signaling potential for further upside.
On Monday, June 16, Bitcoin (BTC) saw a strong recovery, climbing 1.6% in the past 24 hours to a high of $107,262, reversing last week’s sluggish performance. Analysts suggest BTC may continue its upward trajectory toward new highs.
Bitcoin Price Chart – Source: TradingView.
Last week, Bitcoin faced selling pressure amid Middle East tensions, dropping over 7% from $110,000 to a low of $102,000. However, market experts believe geopolitical risks may have limited long-term impact on BTC.
According to Kathleen Brooks from XTB, “Bitcoin would only break below $100,000 if Middle East tensions escalate significantly into a more dangerous phase.”
Meanwhile, CryptoQuant data indicates that Bitcoin inflows on Binance have hit historic lows, suggesting reduced selling pressure and a preference for holding.
Bitcoin Whale & Retail Investor Inflows – Source: CryptoQuant.
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