Bitcoin Surges 2.5% to $106,351 as Utility and Institutional Demand Rise

Bitcoin is experiencing a resurgence in utility as Bitget Wallet introduces a crypto-backed Mastercard in the UK and EU. This new card allows users to spend digital assets like Bitcoin at over 150 million merchants globally, directly from their wallets. The real-time crypto-to-fiat conversion with no fees makes it easier than ever to use Bitcoin for daily purchases. Backed by Immersve’s infrastructure and compliant with Mastercard’s standards, this innovation bypasses traditional banking hurdles and is aimed at Gen Z users, especially in underserved regions. The US isn’t included yet due to regulatory constraints, but the rollout may expand. This development is redefining Bitcoin from an asset to a currency.

Deutsche Bank is deepening its involvement in the digital asset space. In collaboration with Taurus and Bitpanda, the bank plans to launch a full crypto custody service by 2026. This project also includes tokenized payments and a stablecoin. UK-based The Smarter Web Company added 230 BTC to its treasury, now holding 773 BTC worth $82.6 million. The company recently raised $62 million and has set aside over $52 million for more BTC buys. Its goal is to build a 10-year Bitcoin reserve strategy. Together, these institutional moves show growing confidence in Bitcoin’s long-term role in the financial system, providing structural demand beyond the speculative cycles.

Bitcoin is currently trading at $106,351, recovering from the 61.8% Fibonacci retracement level at $103,270. The rising trendline from the June 23 low near $99,775 is intact, and the price is testing the 50-EMA at $106,898. The MACD is flattening and showing early signs of a bullish crossover. A close above $106,786 could signal a move to $107,832 and $108,979. If $105,431 fails as support, watch for a deeper pullback to $104,338 or $103,271. The support levels are $105,431, $104,338, and $103,271, while the resistance levels are $106,786, $107,832, and $108,979. The bias is bullish above $104,300. Institutional demand, increasing retail use, and better charts are driving the current momentum.

With Bitcoin trading near $105,000, investor focus is shifting toward BTC Bull Token ($BTCBULL), a rising altcoin that is nearly fully allocated during its presale. As of today, the project has raised $7,844,655 of its $8,873,431 target, leaving under $1 million to be raised before the token price moves to the next tier. Currently priced at $0.002585, early buyers have a limited time to enter before the subsequent price increase takes effect. BTCBULL ties its value directly to Bitcoin’s price through two smart systems: BTC Airdrops, distributed to holders with priority for presale participants, and Supply Burns, triggered automatically when BTC rises in $50,000 increments. This staking model appeals to both DeFi veterans and newcomers seeking hands-off income. With just hours left and the hard cap nearly reached, momentum is building fast. BTCBULL’s blend of Bitcoin-linked value, scarcity mechanics, and flexible staking is fueling strong demand. Early buyers have a limited time to enter before the next pricing tier activates.