The 8th time since 2025! Bitcoin has encountered resistance at the $106,000 resistance level, and market sentiment is complicated.

Bitcoin has recently been fiercely contested around the $106,000 mark. Although it briefly reached $107,000 on Tuesday, it quickly fell back to around $105,000, failing to effectively break through for the 8th time since 2025.
Market analysts point out that this key point is becoming an important psychological barrier for bulls, with significant selling pressure triggered each time it is touched.

At the same time, the current market performance is influenced by a mix of bullish and bearish factors.
On one hand, the advancement of the U.S. "GENIUS Stablecoin Act" and the continuous inflow of funds into Bitcoin spot ETFs provide support, with BlackRock's IBIT holding over 630,000 Bitcoins, accounting for 3% of the total Bitcoin supply, and its structural buying has also pushed Bitcoin up 42% so far this year.
On the other hand, Moody's downgraded the U.S. sovereign rating to Aa1 over the weekend, which briefly boosted the buying demand for Bitcoin, but the high real yields are still suppressed by risk appetite.
In addition, the regulatory policies regarding cryptocurrencies like Bitcoin are still unclear globally, and the complex geopolitical situation is also causing disturbances in market sentiment. Furthermore, Bitcoin is facing key resistance levels technically, and the pressure of a technical correction cannot be ignored.
According to analysts, Bitcoin needs to close above $107,500 on a daily basis to confirm the breakout. He expects the first support level to be around $102,750, which is exactly at the intersection of the 50-day moving average and Monday's opening price.
Currently, BTC volatility is close to historical lows, but the large number of options expiring on May 30, concentrated at the $110,000-$115,000 strike price (, may trigger significant price fluctuations. Additionally, the upcoming release of the FOMC meeting minutes and legislative progress are also key short-term catalysts. Furthermore, JPMorgan recently opened Bitcoin investments to bank clients, marking an acceleration in the traditional institutions' layout.
In summary, Bitcoin is currently at a critical decision point. Whether it can convert the $106,000 resistance into support in the coming days and subsequently challenge the historical high from January is also a focal point of widespread market attention.
你认为比特币未来几天能否突破106,000美元的关键阻力位? 对于比特币接下来的市场形势,你有哪些独到的见解? Welcome to share!
) cryptocurrency ETF #GENIUS Act