📊 Current Price Overview (As of June 25, 6 PM Beijing Time)

Current price: approximately $107,728

24-hour increase: +1.45% (up about $1541)

Intraday high: $108,146

Daily minimum: $106,187

Mainstream spot platform trading volume: moderately low, momentum gently rising

🔍 Market bullish factors
1. Geopolitical Easing: Iran and Israel Reach Ceasefire Agreement
Alleviate market panic sentiment and provide short-term support for risk assets (including BTC). Bitcoin, as a "safe haven alternative," once surged previously and is now consolidating in a stable range.

2. The US dollar weakens
The US Dollar Index DXY approaches a one-year low, driving a rebound in crypto assets. Historical experience shows that during periods of US dollar depreciation, BTC usually performs better than traditional assets.

3. The "long structure" is obvious on the options expiration date.
Today is the delivery date for large options contracts this month, with approximately 20 billion USD in BTC options set to expire. Among them, the total value of call options exceeds 11.2 billion USD, significantly higher than that of put options—indicating a clear market bet on bullish sentiment.

📈 Technical Analysis
Key Technology Position:
Support level at 106,500 ~ 107,000 USD. If this range is broken, the short-term pullback risk increases. Resistance level at 108,000 ~ 108,800 USD is currently challenging this area. If broken, it will open up space for an upward movement.
Indicator Interpretation:

MACD/RSI: The daily level indicators are biased towards bullish, but the momentum is gradually slowing down, and there may be fluctuations in the short term.

VWAP (Volume Weighted Average Price) support: Bitget and Binance futures indicate that above $108,440 is a strong zone. If it holds this position, it will further challenge the $109,000 to $110,000 range.

💰 Funds and On-chain Dynamics
1. Exchange BTC balance decreased
Data shows that the BTC reserves of exchanges such as Binance have decreased, indicating that investors are more inclined to hold for the long term rather than sell.

2. The signal of major institutions increasing their positions is obvious.

Billionaire Philippe Laffont publicly stated that the market value of Bitcoin is expected to expand from the current $2.6 trillion to $5 trillion, expressing optimism about BTC's long-term position.

BlackRock is reported to be researching more crypto ETF products beyond BTC/ETH, indicating further penetration of traditional funds into the market.

Pomp in the U.S. completes a $1 billion merger deal with institutions to establish a "company-level treasury" structure focused on Bitcoin.

🔮 Market Outlook and Strategy Recommendations
Short-term strategy (1-3 days):

Bullish outlook: As long as BTC holds above $107,000, the targets are $108,800 / $109,600 / $110,800.

Aggressive long position: Buy on breakout above $108,000, set stop loss below $106,500.

If it falls below $106,000: it will return to the consolidation range, possibly revisiting $104,000 ~ $102,000.

Medium-term strategy (1–4 weeks):

If BTC can stabilize above 108k and break out with volume, it will open the main upward channel towards $120,000 ~ $130,000.

It is not recommended to heavily invest in short-term speculation; position control and reasonable take-profit and stop-loss should still be implemented.

📌 In summary:

Today's BTC trend is bullish, but the insufficient volume still requires caution against false breakouts. If it holds above 107K, we can look for a higher line; if it falls below 106K, we need to be cautious of a short-term pullback.