In the whirlwind world of financial markets, Bitcoin has always acted like a North Star guiding, yet sometimes unpredictable. Today, October 21, 2025, glancing at the price screens, $107,500 for BTC catches my eye. This figure, with the daily candle opening at $108,200 GMT, hints at a quiet day brimming with potential. Just weeks ago, the market shuddered under $20 billion in liquidations, sending Bitcoin tumbling from a $126,000 peak. But is this drop the end of a cycle, or merely a pit stop on the upward road? Let's start at the roots: fundamental analysis. The April 2024 halving still casts its shadow over the market. Halving the block reward to 3.125 BTC slowed new supply and ramped up scarcity. History tells us such events often prelude extended bull runs. In past cycles, prices doubled or tripled post-halving. Now, in 2025, despite the swings, analysts like PlanC argue there's zero fundamental reason for an early cycle top. $300,000 might be on the horizon, though more cautious voices eye $130,000 by year-end. But the market doesn't hinge solely on halvings. ETF flows mark another pivot. Since early October, we've seen about $1.2 billion in outflows for instance, $536 million on October 17. BlackRock and Fidelity took hits, with $29 million and $132 million exits. These pullbacks respond to U.S.-China trade tensions and Trump's tariffs. Yet, the bigger picture shines: ETFs have pulled in over $35 billion since launch. Institutions, like Bitcoin whales, are shifting to Wall Street, and Germany's aifinyo AG plans to stack 10,000 BTC by 2027. This adoption acts like an anchor, steadying the ship against short-term storms. Now, onto the macro front. Today's key economic events could jolt Bitcoin. Christopher Waller's FOMC speech on Fed policy might signal interest rate paths. If Waller hints at softer stances, risk appetite surges, benefiting BTC. Meanwhile, the API Weekly Statistical Bulletin and U.S. crude oil inventories impact mining energy costs miners guzzle about 1% of global electricity. Speeches from Bundesbank's Nagel and ECB's Lagarde carry weight too; Lagarde often dwells on Eurozone inflation, and any nod to rate cuts boosts global liquidity, making crypto more appealing. Beyond that, adoption is accelerating. Europe, the world's largest crypto market, has seen DeFi activity surge eightfold. In the U.S., states like Washington boast high adoption rates. Even governments are dipping in: Trump's March 2025 executive order proposed a Strategic Bitcoin Reserve. These aren't just buzz they're signs of market maturity. Sure, risks loom, like the U.S. government's $15 billion Bitcoin seizure, eroding trust. But some believe it'll catalyze better regulations. From an on-chain view, hash rate keeps climbing, though hash price has dropped 60%. Bitcoin's dominance hits 72.4%, an eight-year high. This underscores faith in BTC as a store of value while altcoins lag. The 14-day RSI hovers at 45 not oversold, not overbought and MACD gives neutral signals. Trading volume has stabilized post-crash. So, what's the play here? Bitcoin's a marathon, not a sprint. The recent dip was necessary deleveraging, but fundamentals stand firm. With today's events, volatility's likely, yet the long-term trajectory looks upward. If ETFs flip to inflows and macro eases, $130,000 is within reach. But always, diversify. Ultimately, Bitcoin isn't just an asset it's a symbol of financial sovereignty, and in 2025, its story is just beginning.