#BTC110KToday? 🚀 Bitcoin Nears $110K as Institutional Demand Surges! 🚀
Bitcoin is inches away from 110,000∗∗,tradingat∗∗110,000∗∗,tradingat∗∗106,413.69 (+1.02% today) after hitting a 24H high of $107,955.88 10. The rally is fueled by:
📊 Key Drivers:
- ETF Inflows: Spot Bitcoin ETFs see renewed demand, with BlackRock and Fidelity leading inflows.
- Whale Activity: A single address accumulated $141M in BTC, signaling strong bullish conviction.
- Options Market: Traders are betting on $110K+ with Deribit’s open interest spiking.
💡 Critical Levels:
- Resistance: 107,000(localhigh)→Breakoutcouldtriggerarunto∗∗107,000(localhigh)→Breakoutcouldtriggerarunto∗∗110K+**.
- Support: $103,500 (consolidation floor) – holding strong.
🔥 Why Now?
- Institutional accumulation exceeds daily BTC supply by 3x.
- Retail FOMO still low (Google Trends at 30 vs. 75 in 2024) – early bull phase?