$BTC CheckDot is SAFU
**Bitcoin Consolidates Above $108K Amid Institutional Demand and Technical Setup**
Bitcoin (BTC) is currently trading around $108,300, holding steady within a tight range despite broader market uncertainty. While price action remains muted, several bullish signals suggest potential for an upward breakout.
Institutional interest continues to grow. Japan’s Metaplanet recently added over 2,200 BTC to its holdings, while DDC Enterprise acquired 230 BTC, bringing their total to 368 BTC—a move that has already returned nearly 48%. On the mining front, BitFuFu reported record monthly production in June with 445 BTC mined, and Hive Digital expanded operations in Paraguay, boosting output by 18%.
Technical analysts point to a consolidation phase following a key resistance reclaim. The Mayer Multiple indicates BTC remains undervalued, and some chart patterns suggest a possible breakout target of $120,000—or even $230,000 in the long term if a cup-and-handle formation plays out.
Macroeconomic factors, including renewed U.S. tariff tensions and upcoming crypto regulation talks in mid-July, could add volatility. However, Bitcoin's fundamentals remain strong, underpinned by growing corporate accumulation and robust network activity.
With technical indicators aligning and demand rising, Bitcoin could soon leave its current range behind.
