BTC falls below the $107000 mark

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According to Reuters, the US fiscal concerns and the tepid auction of US treasury bond bonds, as well as Trump's attempt to push Congress to pass its comprehensive spending and tax reduction bill, led to the decline of the US dollar. Against this background, Bitcoin broke through 110000 US dollars on Thursday and hit a record high, partly because investors sought alternatives to US assets, and also released signals that the bull market of cryptocurrency still has room for further growth. These signals include: the general recovery of the stock market, the reinvestment of funds in Bitcoin ETFs, and the increasing number of listed companies holding Bitcoin.

The current price of ETH is $2497.80, with a decrease of 2.82% in the past 24 hours. Among them, the total liquidation amount of contracts across the entire network in the past 24 hours was 146 million US dollars, with multiple orders being the main liquidation and 35.89 million US dollars (24.57%) of ETH liquidation. The data is for reference only.

According to Cointelegraph, the market trend shows some signs of fatigue after Bitcoin breaks through $110000, and analysts predict that it may soon enter the next bear market. Technical analysis shows that the current price fluctuations of Bitcoin are similar to previous bear markets, and it is expected that the target price for the next market downturn may be $69000. However, some market experts suggest that Bitcoin's long-term growth momentum remains strong, especially with the support of demand in decentralized finance (DeFi) and other application areas, and may break through current market pressures in the future.

BlockBeats News: On May 25th, according to Farside Investors data, the cumulative net inflow of Bitcoin spot ETFs in the United States reached a new historical high of $44.499 billion.