Given the current backdrop of U.S. government shutdown uncertainty, rising gold prices, and continued outflows from $BTC ETFs, any bounce we see around the $104–105k level may be purely technical, driven more by short-term oversold conditions and dip-buying than by renewed bullish conviction.

In this environment, Bitcoin could indeed stage a short-term relief rally, but until price forms a higher low above $110k, the broader structure remains corrective. A sustained reclaim and consolidation above that level would signal that buyers are regaining control.

For now, treat any bounce as a technical reaction, not a confirmed reversal.

Stay nimble, manage exposure, and watch for whether BTC can flip $110k from resistance back into support.