Bitcoin Surges 0.15% to $104,303 Amid $1 Billion Liquidations

Bitcoin has rebounded above $104,300, marking a significant recovery from recent market volatility. This resurgence comes amidst global economic tensions and trade policy uncertainties, which have been influencing cryptocurrency markets. Despite a recent pullback, institutional interest in Bitcoin remains robust, with firms like Strategy (formerly MicroStrategy) and GameStop adding BTC to their corporate treasuries.

Technical analysis highlights a clear bottoming pattern over the past 24 hours, with strong volume support emerging around the $103,200-$103,400 zone. Buyers consistently stepped in at this level, indicating a potential reversal in the market sentiment. The subsequent recovery phase gained momentum after breaking above the $104,000 resistance level, with increasing volume confirming buyer conviction. This technical structure suggests that the correction has likely completed, with the price now establishing a new support base for the potential continuation of the broader uptrend.

In the last hour, Bitcoin demonstrated a notable recovery pattern, climbing from $104,146 to $104,303, with significant bullish momentum emerging at 14:01. The price surged from $104,188 to $104,323 on substantially higher volume, with 429 BTC traded. The price action formed a clear consolidation range between $104,077 and $104,263 before the breakout, with key support established around $104,080-$104,090.

The recent rebound in Bitcoin's price can be attributed to the nearly $1 billion in liquidations triggered by tariff chaos. This liquidation event has likely contributed to the increased buying pressure, as traders and investors seek to capitalize on the market's volatility. The strong institutional backing and technical indicators suggest that Bitcoin is poised for further gains, despite the ongoing economic uncertainties.