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Bitcoin rose to 109700 USD, professional traders maintain a cautious attitude towards price momentum.
According to Mars Finance, Bitcoin briefly tested the support level of 105,200 USD on Wednesday before rising to over 109,000 USD, approaching its historical high. However, BTC derivation data shows that traders remain cautious and are not significantly bullish. The expansion of money supply in the Eurozone and the weakness in the U.S. labor market are important driving factors for the market. The discount of USDT in China reached 1%, marking a new low since mid-May, reflecting insufficient confidence among investors regarding the rising trend of Bitcoin. The Spot Bitcoin ETF saw a net outflow of 342 million USD on Tuesday, as escalating trade tensions have heightened market uncertainty. (Cointelegraph)