Bitcoin traded at $107,937 as of 22:22 UTC on Sunday, marking a 0.54% increase over the past 24 hours. Even with this small increase, the price action of the cryptocurrency kept a volatile behavior going, reaching highs of $107,194 and lows of $108,489 in the 24-hour period. These recent price swings would add to the perception that the Bitcoin market is inherently unstable and unpredictable.

In fact, throughout the day, Bitcoin’s price saw massive swings. Support for Bitcoin was established at $107,300, with multiple rebounds occurring between 02:00 and 03:00 UTC. This support level was key in stopping any additional lows.

Bitcoin's volume peaked at 7,538 BTC between 08:00 and 11:00 UTC on June 29, confirming upward momentum during this period. Rising trading activity typically indicates more potent price movement potential and in this instance made the bullish move up all the more convincing.

Volatility persisted as a 130 BTC volume spike at 13:35 coincided with a sharp dip to $108,030. This important level was tested and finally broke, showing resilience in the face of such a sudden drop in price.

During the final session hour (13:05–14:04 UTC), Bitcoin's price fell from $108,219 to $108,059, forming a descending channel. This late-session decline somewhat offset all of those earlier increases.

From June 28 15:00 to June 29 14:00 UTC, Bitcoin traded within a range of $107,194 to $108,489, representing a 1.21% intraday range. This fairly tight band is a result of the buyer/seller push and pull currently happening across the county.

The final intraday rally pushed Bitcoin's price back toward $108,000 before fading slightly by 22:22 UTC, settling at $107,937. While this late Bitcoin recovery may point to the longer term potential of Bitcoin, it points to the difficulty in maintaining upward momentum.

The cryptocurrency market continues to be highly reactive, whether that’s to macroeconomic developments or specific comments from key players like Jerome Powell or Elon Musk. In other words, to take one example, Donald Trump’s anti-deficit spending comments a few weeks ago sent investors into a tizzy.

"For all cost cutting Republicans, of which I am one, REMEMBER, you still have to get reelected. Don’t go too crazy! We will make it all up, times 10, with GROWTH, more than ever before" - Donald Trump

Regulatory pronouncements like these can have a chilling effect on investment decisions, which may affect future asset allocation towards or away from cryptocurrencies such as Bitcoin.

Market analysts are still watching these market developments very closely, offering predictions on what all of this means for future price upswings or downswings. Will Clemente, a young but well-versed observer of the crypto and broader markets, recently expressed his thoughts on the macro implications of prevailing economic policies.

"How can you read this and hold long term US treasuries at current yields lol... Also, how can you read this and not hold any Bitcoin or gold." - Will Clemente

Yet his remark highlights an increasingly popular line of thinking among investors. More importantly, many have come to view Bitcoin as a protection or alternative to conventional financial assets, particularly at the time of crisis.