Recent events
Bitcoin reached $116,608 on CMC, surpassing the May record of $111,999. The trade consolidation between $113,000 and $116,000 follows a confident breakthrough above the resistance level of $108,000. Binance recorded a peak at $112,036 with a steady momentum.
Key catalysts
• Institutional flows: The inflow of funds into spot ETFs caused the liquidation of shorts for $340 million
• Corporate adoption: Treasury reserves reached 847,000 BTC ($91 billion)
• Regulatory changes: Cryptocurrency-supporting appointments and Trump Media's $1 billion ETF offer have improved sentiment
• Technical breakthrough with goals at $117,300-$121,000, with strong support at $100,000-$103,000
Trading strategy
Monitor the level of $110,000 as a key support for corrections. The current ratio of long and short positions of 39-43% indicates an extreme degree of bullish sentiment, Europe leads the price movement (+2,674.81 amplitude). Consider the possibility of building up positions on declines with hedge against short-term volatility.
