According to James Van Straten, Bitcoin BTC remains stable around $105,000, defying the Federal Reserve's decision to hold interest rates steady and ongoing Israel-Iran conflicts that typically pressure risky assets; this resilience is partly due to the bitcoin treasury narrative, with 235 entities now holding BTC, a 27-entity increase in 30 days. However, derivatives indicators such as reduced open interest at $55.3 billion and a BTC put/call ratio of 1.13 suggest elevated caution, as liquidation risks cluster near $103,000-$106,000, potentially triggering sharp moves if the price breaks its 42-day range.