According to James Van Straten, Bitcoin (BTC) has maintained stability around $105,000 despite the Federal Reserve holding interest rates steady and ongoing Israel-Iran conflicts, with BTC not trading below $100,000 for 42 days. Corporate treasury adoption is supporting BTC, as the number of entities holding it increased to 235. However, derivatives indicators show caution, with total open interest at $55.3 billion and a BTC put/call ratio of 1.13, alongside elevated liquidation risks near current prices.