Analysts warn: Bitcoin has held onto $105,000 but is still unstable

Bitcoin price plummets after public spat between US President Donald Trump and Elon Musk, now back at $105,000
As the dollar appears to be recovering its bullish line and seeking stability, experts have described the current price range as a "delicate and unstable zone" and that it could suddenly turn either bullish or bearish.
According to The Block on the 8th (local time), Kronos Research analyst Dominic John said, "Trading above $105,000 is a bullish signal.
"However, the market structure remains unstable," he said. "With the fear and greed index at 55, the market is on a wait-and-see basis to gauge direction. There is no sign of an external 'macro trigger'."
"Bitcoin is currently in a delicate zone near the core support line," added Kay Lu, CEO of HashKey Eco Labs.
"With the stock trading at a high volume and investors in a fragile mood, even a single negative news story could trigger a sell-off," he said.
The recent support for Bitcoin above the $105,000 mark is due to the growing adoption of Bitcoin by businesses.
Min JEONG, an analyst at Presto Research, said, "Bitcoin is gaining support thanks to the 'Bitcoin for businesses' narrative."
"More companies are following in Strategy's footsteps," Trump Media & Technology Group (TMTG) said recently.
The company announced that it would prepare a fund of $4.7 billion and hold Bitcoin as a corporate treasury asset. GameStop also
He bought BTC and joined the Bitcoin Corporate Treasury.
Strategy, led by Jeff Saylor, plans to issue $1 billion in Stride (STRD) preferred stock, some of which it plans to use to buy additional Bitcoin.
Metaplanet has also been steadily purchasing Bitcoin, demonstrating strong confidence. Going forward, Bitcoin's short-term volatility will depend on major U.S. economic indicators.
"Volatility may increase again from the middle of this week," said Min Jeong, an analyst at Presto Research. "The U.S.
The Consumer Price Index (CPI) and Producer Price Index (PPI) are due to be released, and if these figures come out higher than expected, this could put pressure on risk assets in general."
The CPI is due to be released on the 11th and the PPI on the 12th, and the results will be a key factor in determining whether the Federal Reserve will cut interest rates at its meeting scheduled for June 17.
That's expected to be a key benchmark. Markets currently rate the Fed at a 99.9% chance of keeping interest rates at 4.25% to 4.50% at this meeting, according to CME Group's FedWatch tool.
Meanwhile, as of 3:25 p.m. on the 9th, Bitcoin was down 0.07% from 24 hours earlier and up 0.57% from seven days earlier on the cryptocurrency market price website CoinMarketCap.
It is being traded for $05,540 (approximately 15.2 million yen).