Bitcoin news update: BTC range tightening hints at price break to new highs
Bitcoin’s trading range tightens as bulls buy minor corrections while pushing BTC’s average daily trading price higher.
Key point:
Bitcoin is finding support at $107,245, showing investor sentiment remains positive, and every minor dip is being purchased.
Bitcoin (BTC) is attempting to bounce off the moving averages, indicating buying on dips. Although the price is just below the all-time high of $111,980, it is not yet in the overvalued zone. CryptoQuant contributor Axel Adler Jr. said in a post on X that the Mayer Multiple at 1.1x was “within the neutral zone (0.8–1.5х).”