Bitcoin Price Today Above $107K: Analyst Warns of Correction

• Bitcoin holds above $107 today
• Ethereum breaks $2.700 on buying strength
• Telegram and xAI partnership boosts TON’s rise

As of Wednesday, May 29, 2025, Bitcoin is trading at $107.324, down slightly by 0,6% over the past 24 hours. Despite recent declines, the asset has managed to remain above the $107 mark after testing this support several times throughout the previous day. BTC is currently trading close to $108.500.

The price action comes after a bullish week that took BTC close to $112.000, marking its highest price since early 2025. The pullback was intensified after US President Donald Trump announced a new package of tariffs against the European Union, which provoked an immediate negative reaction in the market.

Despite the positive inflows seen in US spot Bitcoin ETFs, the asset failed to sustain its upward movement and fell to $107.000. However, buyers reacted quickly, protecting this level and recovering part of the losses. Bitcoin's market cap remains at $2,155 trillion, while market dominance has fallen slightly to 60,6%.

For analysts like Michael van de Poppe, Bitcoin continues to operate “level after level” in search of new all-time highs. However, he warns that if the support at $107 is lost, the market could experience quick and sharp corrections. “As is normal, the corrections will be volatile and with deep corrections, as people tend to get back into the asset quickly,” he said.

Level by level, # Bitcoin continues to grind upwards.

I think that we'll continue to grind towards new ATHs, however, if this green block (support) is lost, you'll see fast wicks occur.

Quite standard, corrections are going to be volatile and with deep wicks as people tend to… pic.twitter.com/6BUTbQ3xyR

- Michaël van de Poppe (@CryptoMichNL) May 29, 2025

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Ethereum also showed strength, surpassing $2.700 in the last few hours. The PEPE token rose around 6%, while PI fell more than 3% and is close to breaking below the $0,70 mark.

Another highlight of the day was TON, which rose 8% after rumors of a possible $300 million partnership between Telegram and Elon Musk's xAI. Even without the formalization of the agreement, the price of TON jumped from less than $3 to almost $3,70, then retreated to $3,33 — still a significant appreciation on the day.