Bitcoin rises to $109700, professional traders cautious about price momentum

Odaily Planet Daily News: Bitcoin briefly tested support at $105200 on Wednesday and rose to over $109000, approaching a historical high. However, BTC derivative data shows that traders remain cautious and do not see a large-scale bullish trend. The expansion of the Eurozone money supply and the weakness of the US labor market are important driving factors for the market. The discount of USDT in China has reached 1%, hitting a new low since mid May, reflecting investors' lack of confidence in the rise of Bitcoin. Spot Bitcoin ETF had a net outflow of $342 million on Tuesday, as trade tensions intensified market uncertainty. （Cointelegraph）