Bitcoin is currently trading near its 50-day moving average, a critical technical level that could dictate its short-term direction. At $107,800, Bitcoin has declined 2.29% in the past 24 hours. Analysts suggest that a rebound above this level may indicate further gains, while a drop could lead to more significant corrections. Elevated leverage in derivatives markets heightens the risk of forced liquidations if downward pressure persists. Despite these risks, institutional inflows, particularly into spot Bitcoin ETFs, continue to underpin a generally bullish sentiment.