Bitcoin's price surged by over 3% to approximately $105,000 on June 24, driven by several key factors. The ceasefire agreement between Israel and Iran has restored global risk appetite, alleviating investor fears regarding geopolitical tensions that had recently impacted markets. Concurrently, there has been a notable increase in capital inflows into spot Bitcoin ETFs, totaling nearly $50 billion, which reflects rising institutional confidence in Bitcoin as a top digital asset. On a technical level, Bitcoin is forming a bullish cup-and-handle pattern, positioning it for a potential rise towards $144,000, assuming it can break through current resistance levels. Continued demand from institutional investors, including notable corporate holders, further supports this bullish outlook. The technical indicators are also favorable, with the Relative Strength Index indicating a strong market trend. Observers suggest that if Bitcoin successfully surpasses the 50-day moving average resistance at $105,000, new all-time highs could be reached in the near future.

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