Bitcoin briefly surpassed $107,000 before falling back below $105,000

According to ChainCatcher, citing a report from Golden Ten Data, after last month's sharp decline, bitcoin is struggling to achieve a meaningful recovery. On Monday, bitcoin briefly broke above $107,000 before falling back below $105,000, highlighting the fragility of market sentiment. This downturn is partly due to large holders taking profits and ongoing unease in the market. Although bitcoin ETFs listed on the US stock market attracted a net inflow of $1 million, there is little enthusiasm for funds flowing into exchange-traded funds. Analysts point out that bitcoin remains pinned below its 200-day moving average, which is currently around $110,000.