$BTC

**Bitcoin (BTC) Update – Key Developments**

1️⃣ **Price Action**: BTC is currently trading around **$61,000**, facing resistance at $63K while testing support near $60K. Market sentiment remains cautious amid macroeconomic uncertainty.

2️⃣ **Institutional Moves**:

- **Metaplanet** (Japan) has added more BTC to its balance sheet, following MicroStrategy’s aggressive accumulation strategy.

- Spot Bitcoin ETFs continue to see inflows, with BlackRock’s IBIT leading.

3️⃣ **Macro Factors**:

- Fed rate cut expectations and weakening USD could fuel a BTC rally later in 2024.

- Geopolitical tensions and inflation data remain key drivers.

4️⃣ **On-Chain Data**:

- Long-term holders (HODLers) remain dominant, reducing sell pressure.

- Exchange reserves are declining, signaling accumulation.

**Outlook**: If BTC holds $60K, a breakout toward $70K is possible. Watch for ETF flows and Fed signals! **#Bitcoin #Crypto #BTC** 🚀