Strong Entry into Bitcoin ETFs: Institutional Confidence is Increasing, Supply Crunch is Becoming Apparent

Despite geopolitical tensions and market fluctuations, Bitcoin is signaling strong institutional support. In the last 24 hours, there has been an inflow of $588 million into spot Bitcoin ETFs. This figure represents the highest daily inflow recorded since May 22, indicating that investor confidence has been restored.

Corporate Capital is Flowing into Bitcoin

While uncertainty continues in the crypto markets, the demand for ETFs clearly shows that institutional investors' interest in Bitcoin remains. Large investors view BTC as a long-term store of value despite short-term volatility. This trend confirms that the market structure is becoming increasingly professional and institutional.

Long-Term Holders are Not Selling: Supply Crunch is Deepening

On-chain data also supports this table. The Long-Term Holders (LTH) indicator of Bitcoin shows that there has been no significant spending since June 10. Approximately 14.7 million BTC is held in long-term wallets, bringing the LTH supply to all-time highs.

As this group of investors prefers to hold onto their assets rather than sell, the liquid supply in the market is shrinking. If demand increases in such a supply crunch environment, strong upward moves in Bitcoin's price can be observed. In the past, during similar dynamics such as late 2020 and post-March 2020, prices saw sharp increases.

Technical Outlook: What are the Critical Levels?

Bitcoin is currently trading at $106,554 and is only 3.2% away from reaching the psychological resistance point of $110,000. However, to progress towards this target, the $105,662 level must first be maintained as a strong support.

An upward momentum gained from this support level could pave the way for Bitcoin to surpass the $108,000 interim resistance and then catch a strong upward wave towards $110,000. Such a move would not only be a technical success but also a strong signal that market confidence has been restored.

Risks and Downward Scenario

On the other hand, if market expectations go against or if investors turn to profit realization, the risk of Bitcoin dipping below the $105,662 level arises. If this occurs, it is likely that the price will drop below $105,000, which would invalidate the current bullish scenario. In such a case, market sentiment could deteriorate, and selling pressure may increase.

Conclusion:

ETF inflows and long-term investors not selling indicate that Bitcoin's fundamentals remain strong. However, we are entering a period where technical levels need to be closely monitored. The bullish scenario remains valid as long as the $105,662 support is maintained. Otherwise, short-term pressures may increase.

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