Analysis: If Bitcoin breaks through the resistance level of $106,406, the next target is its all-time high.

BlockBeats News, June 16, BTC Markets cryptocurrency analyst Rachael Lucas shared her market analysis perspective: "Geopolitical instability, such as the recent Israeli attack on Iranian nuclear facilities, caused Bitcoin to experience a brief 4% drop, highlighting Bitcoin's sensitivity to risk-off events. Nevertheless, as investors view it as a geopolitical hedge, Bitcoin typically rebounds quickly. The recent breakthrough of the $106,406 resistance level suggests continued bullish momentum, with the next major target being the all-time high."

Kronos Research Chief Information Officer Vincent Liu commented that once international tensions subside, strong global liquidity and institutional demand might lay the groundwork for a breakout rally in Bitcoin.