Why is the price of BTC rising?$BTC
The 2.97% increase in the price of Bitcoin, reaching 112,685 dollars in 24 hours, reflects institutional inflows through ETFs, technical momentum after breaking resistances, and positive market sentiment.
1. Institutional buying in the U.S. through ETFs and increase in the Coinbase Premium index.
2. Technical breakout above 111,000 dollars with bullish confirmation in MACD and RSI.
3. Increase in liquidity due to the issuance of 1 billion USDT by Tether.
✨Detailed analysis
1. Main catalyst: Institutional accumulation
Spot Bitcoin ETFs recorded inflows exceeding 4.5 billion dollars in July (Crypto_Scient), while the Coinbase Premium index reached 42, indicating that U.S. investors paid higher prices for BTC.
Movements in corporate treasuries: SharpLink announced the purchase of Ethereum for 475 million dollars (Joe Lubin), reinforcing the institutional credibility of cryptocurrencies.
2. Technical context
Bullish crossover in MACD: MACD line at 1.131 versus signal line at 841, showing the strongest momentum since June.
Breakthrough of resistance at 111,742 dollars (level of July 10) with a 14-period RSI at 62.54, leaving room for more upside before entering overbought territory.
Upcoming targets: 115,635 dollars (Fibonacci extension 127.2%) and 120,354 dollars (Fibonacci extension 161.8%).
3. Market dynamics
Rotation towards altcoins: BTC dominance dropped to 63.93% (-0.33% in 24 hours) due to capital flow towards SOL and ETH, although BTC maintains the lead.
Derivatives activity: open interest rose by 26.6% to 1.01 trillion dollars, while funding rates remained neutral (+0.00367%), reducing the risk of liquidation pressures.
✨Conclusion.
The Bitcoin rally combines institutional demand driven by ETFs, technical confirmation of a bullish trend, and a stable leveraged market. Watch the resistance level at 115,000 dollars this week: will the rotation towards altcoins reduce BTC's momentum or will inflows via ETFs outweigh selling pressure?
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