$BTC **Bitcoin in Strategic Context (July 2025)**

🔷 **Price Momentum**

BTC is around **118,000 USD**, marking a new all-time high. This is accompanied by a strong institutional narrative and a migration of assets towards self-custody.

🔷 **Key Indicators**

- BTC Dominance: exceeds **52%**, putting pressure on altcoins

- MVRV Z-Score is entering historical overvaluation territory

- Signs of a pullback in weekly RSI (>80) suggest a possible correction in the short term

🔷 **Market Flows and Behavior**

- Massive withdrawal of BTC from centralized exchanges

- Institutional accumulation, especially via ETFs like IBIT

- Diversified mining, with HIVE and Marathon pivoting towards AI for post-halving profitability

🔷 **Relevant Narratives**

- BTC as a “financial shield” against geopolitical risk (conflicts, inflation)

- Debate about its role in digital sovereignty against CBDC proposals

📊 For your **breakout trading** or **retracement** strategies, the current rally offers interesting points:

- Clear breakout of resistance at 100,000 USD with strong volume

- Potential retracement to support areas at 105,000–108,000 USD if overbought is confirmed

- Good time to review correlations with ETH, DeFi altcoins, and Hashflow narrative vs BTC