Bitcoin recently surged to new all-time highs above $118,000, driven by record‑breaking momentum. A significant short-squeeze and about $1.18 billion in ETF inflows, along with institutional adoption, fueled this rally . Bulls remain entrenched: technical indicators show BTC breaking out of a descending channel, holding key support around $107 k–$110 k, and exhibiting “narrowing range” behavior—a precursor to potential upside .
Macro tailwinds include U.S. legislation under review (GENIUS & CLARITY Acts) and the launch of a U.S. strategic Bitcoin reserve in March . Analysts forecast July’s median return near +8%, with targets ranging from $130k to $150k, even as broader market volatility looms .
Bottom line: Institutional capital and strong on‑chain/ETF flows support BTC’s momentum. Watch sustained ETF demand, U.S. legislative progress, and pattern breakouts—these will shape its next major move.
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