Bitcoin remains strong above $116,652, setting sights on $165,745 as bulls defend every support level with rising momentum.
Twelve companies acquired 5,871 BTC worth $705M last week, signaling deep institutional conviction at elevated price levels.
Bitcoin whales are moving again, ETFs saw $297M in flows, and Bhutan quietly sent 650 BTC to Binance in under two weeks.
Bitcoin has firmly held above the $116,652 level, transforming previous resistance into strong bullish support. The latest move unlocks a higher structure, with $165,745 now emerging as the active upside target.
Bitcoin Maintains Breakout Momentum Above Key Level
The current structure presented by Javon Marks confirms that Bitcoin has entered a fresh leg up with room to push beyond recent highs. Price is trading cleanly above support, validating the breakout that cleared the $116,652 ceiling. Bulls are now defending this zone as the next resistance stands much higher.
https://twitter.com/JavonTM1/status/1944894637975466423
Bitcoin is now pressing toward $165,745, which marks the next projected resistance level in this continuation setup. The previous ceiling at $97,752 remains untested after flipping into firm support during the move. This confirms that Bitcoin has created a wide bullish range between these two levels.
Price remains stable within the breakout structure, holding higher lows and showing clear vertical movement on lower timeframes. Each candle since the breakout has respected trend support, and momentum has stayed firm. Volume also remains consistent, backing the structure's validity without signs of exhaustion.
The consolidation between $97,752 and $116,652 acted as a launchpad for this upside push. Now that Bitcoin trades above the prior top, the entire range becomes a base structure for the next wave. With $130K as a psychological midpoint, short-term reactions could appear, but the path remains pointed up.
Institutional Demand Confirms Uptrend
In the same window, 12 public companies bought a combined 5,871.33 Bitcoin, totaling $705 million. Strategy led the accumulation with 4,225 BTC at $111,827 each, growing its total to 601,550 BTC. Metaplanet added 797 BTC at $117,451, raising its holdings to 16,352 BTC.
The Smarter Web Company secured 275 BTC, while Remixpoint, DigitalX, and KULR Technology increased their stacks with additional tranches. Multiple firms purchased Bitcoin above $108,000, underlining confidence at current price levels. Strategy's entry shows that large-scale buyers expect further gains.
Bank of America named Bitcoin the best-performing currency of 2025, and ETF inflows confirmed this sentiment. $297.4M flowed into Bitcoin ETFs on July 14 alone, with Ethereum ETFs seeing $259M. Meanwhile, Bhutan’s government transferred 650 BTC to Binance over two weeks.
A dormant wallet moved 20,000 BTC worth $2.4B after 14 years, indicating renewed whale activity. Bitcoin now ranks as the world’s 5th-largest asset, ahead of Amazon and Google, with a $1.814T market cap. The structure and demand both reinforce Bitcoin’s position as a dominant macro asset.
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