Market Overview
Bitcoin surged past $110K, trading at $109,748 (+1.68%) after touching $110,529. This breakout from the $107K-$108.5K consolidation zone shows institutional ETF demand outpacing long-term holder selling.
Key Drivers
• ETF Momentum: BlackRock's IBIT leads with $52.4B inflows since January
• 15 consecutive days of net inflows averaging $400M daily
• Fed rate cut expectations fueling risk appetite
• Monthly chart's "pin bar" pattern signaling continued bullish momentum
• July's historically positive seasonality (+7.5% average)
Trading Implications
• Key Levels: Resistance at $110K-$112K; support at $108.5K
• Targets: $115K-$120K if momentum continues
• Strategy: Consider breakout entries above $112K or accumulation below $109K
Resources & Outlook
• Bitcoin's Consolidation Phase
• ETF Inflow Trends
• BlackRock's Market Dominance
81% of traders remain bullish, with analyst targets at $135K by Q3. Monitor institutional flows and regulatory developments as primary catalysts.