Bitcoin Surges 3.56% to $105,077.64 as Investors Anticipate Fed Rate Cuts

Bitcoin's price has surged past the $105,500 mark, indicating a fresh increase and consolidation above this level. This momentum suggests that Bitcoin may aim for a move above the $108,000 resistance. The recent rally in Bitcoin's price can be attributed to several factors, including renewed investor confidence, positive economic signals, and increased institutional interest. The crypto market saw bulls stepping in strong, with Bitcoin trading at $105,077.64—up 3.56%—and other cryptocurrencies like Ethereum, Solana, Sui, and others rallying up to 13%. This risk-on sentiment could grow stronger if the US Federal Reserve signals rate cuts. Traders are now closely watching Jerome Powell’s speech for hints of any dovish tone that could push Bitcoin beyond its current resistance level of $107,700. There is strong support forming near $103,200, suggesting that even if Bitcoin cools off slightly, it may remain on firm ground unless new global shocks emerge. The broader crypto market has switched back into a risk-on mode, with traditional equity markets bouncing and gold prices slipping, indicating that investors are feeling more optimistic. Bitcoin is back in its previous consolidation zone above $105,000, suggesting that this level may now act as a launchpad for future gains—provided there are no surprises from the Fed or new geopolitical tensions. The sharp rise above $106,000 signals a powerful comeback for the crypto market, fueled by easing geopolitical fears and renewed risk appetite. With Ethereum and altcoins tagging along, the market is showing strength—but the Fed's next move could decide whether this rally continues or cools down. Either way, traders have plenty to watch, from trending coins to central bank signals.

Bitcoin price started a fresh increase above the $105,500 zone. The price is trading above $105,500 and the 100 hourly Simple moving average. There is a bullish trend line forming with support at $107,400 on the hourly chart of the BTC/USD pair. The pair could start a fresh increase if it stays above the $106,000 zone. Bitcoin price started a fresh increase above the $103,500 zone. BTC gained pace and was able to climb above the $104,200 and $105,500 levels to enter a positive zone. The bulls pushed the price above the $106,500 resistance and the price tested the $108,200 zone. A high was formed at $108,165 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $98,272 swing low to the $108,165 high. Bitcoin is now trading above $106,000 and the 100 hourly Simple moving average. There is also a bullish trend line forming with support at $107,400 on the hourly chart of the BTC/USD pair. On the upside, immediate resistance is near the $108,000 level. The first key resistance is near the $108,200 level or the 1.236 Fib extension level of the downward move from the $106,470 swing high to the $98,276 low. A close above the $108,200 resistance might send the price further higher. In the stated case, the price could rise and test the $110,000 resistance level. Any more gains might send the price toward the $112,000 level. If Bitcoin fails to rise above the $108,500 resistance zone, it could start another decline. Immediate support is near the $107,400 level and the trend line. The first major support is near the $105,500 level. The next support is now near the $104,000 zone. Any more losses might send the price toward the $103,500 support in the near term. The main support sits at $103,200, below which BTC might gain bearish momentum. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $107,400, followed by $105,500. Major Resistance Levels – $108,500 and $110,000.