According to Francisco Rodrigues, Bitcoin (BTC) traded around $106,000, gaining 0.9% as reduced geopolitical risk followed President Trump's announcement to delay potential U.S. military action in the Israel-Iran conflict, lowering prediction market odds on Polymarket. However, CryptoQuant analysts warn BTC could drop to $92,000 if demand fails to rebound, citing a 60% decline in ETF flows since April and significant selling by short-term holders. Glassnode reports subdued on-chain activity indicating a maturing market, while technical analysis suggests BTC is testing key moving averages with potential upside to $109,000 if bulls maintain control above support levels.