$BTC

Bitcoin is currently trading at $117,887 USD, almost unchanged from its previous close, with daily highs near $118,668 and lows around $116,821.

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📈 Market Snapshot

All-time high breaching: Bitcoin recently surged past record levels (~$118k–$119k), thanks to institutional inflows and optimism around the upcoming “Crypto Week” in Washington .

Bullish technical outlook: Analysts have identified bullish chart patterns—such as cup‑and‑handle formations—projecting a potential climb to ~$134.5k .

Institutional & ETF momentum: Renewed ETF demand and regulatory progress are fueling sustained interest. Bitcoin is up around 26% YTD .

Volatility caution: Though momentum is strong, experts still warn of sharp pullbacks as typical in crypto markets .

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📰 What’s Driving Prices

1. **"Crypto Week" in DC (July 14)**

The U.S. House is set to review key crypto bills (Genius Act, Clarity Act, Anti‑CBDC Surveillance Act), which could shape regulatory clarity and bolster adoption .

2. Technical breakout signals

Momentum indicators like MACD and chart setups are optimistic, prompting forecasts of continued upside .

3. ETF inflows & institutional buys

Record ETF flows and purchases by firms like BlackRock and MicroStrategy are enhancing long-term demand .

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⚠️ Risks to Watch

High volatility: Even amid a bull trend, rapid swings can happen—experts urge caution and risk management .

Regulatory uncertainty: While some bills are promising, any delays or opposition could shift sentiment—Sen. Elizabeth Warren and others remain skeptical .

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📌 Summary

Bitcoin now sits just beneath new all-time highs (~$118k), backed by strong institutional demand, favorable technical setups, and upcoming regulatory decisions. Still, it's wise to stay alert to the inherent volatility and policy developments as “Crypto Week” unfolds.