$BTC 📉 Recent Price Action & Drivers

1. Geopolitical Sell-Off

Bitcoin dipped from around $110K to as low as ~$103K as risk-off sentiment surged amid the Israel–Iran tensions, mirroring declines in equities and oil prices rallying sharply .

2. Partial Recovery

After bottoming, BTC rebounded to the mid-$105K–$106K range, supported by softening U.S. inflation pressures (PPI & CPI data) and expectations of Federal Reserve rate cuts .

3. Technical Outlook

The 50‑day Simple Moving Average (around $103K) acted as key support .

Some traders warn of a potential bull trap, with trendlines and fractals signaling a possible further dip toward the $100K base zone .