Bitcoin’s market cap now sits at a hefty $2.15 trillion, while the price has settled near $107,891 after a day of volatile swings between $106,222 and $108,142. The daily chart tells a story of a steep climb from a low of about $73k last year, a peak near $126,272, and a retracement that has left traders debating whether the asset is forming a consolidation base or a classic bear‑flag pattern signaling a potential breakout.

Volume has stayed robust at roughly $33.63 billion in the last 24 hours, suggesting that any directional move could be well‑supported by liquidity. The high 24‑hour volume, combined with the tightening range, fuels speculation that Bitcoin could break out of the current consolidation either to the upside, continuing the rally, or to the downside, testing support around $105k.

From a technical standpoint, the price action is circling a key support line that has held since the mid‑$90k range. A break below that line would likely trigger a sell‑off toward the $90k floor, whereas holding above it would reinforce the bear‑flag theory and could pave the way for a higher‑high toward $120k. Traders are watching the relative strength index (RSI) and moving‑average convergence divergence (MACD) for confirmation, as well as the behavior of the 200‑day simple moving average, which has acted as a dynamic floor since the start of 2024.

Beyond the charts, macro‑economic factors such as the Fed’s interest‑rate outlook and corporate Bitcoin adoption announcements add layers of uncertainty. Investors wary of a potential rate hike might pull funds back into traditional safe havens, pressuring Bitcoin lower. Conversely, institutional inflows, particularly from hedge funds eyeing the asset’s hedge capabilities, could push the price higher, reinforcing the bullish flag narrative.