#Write2Earn Here’s your written update on Bitcoin (BTC) as of today:
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📈 Price Snapshot
Current price: $117,554
Intraday range: $115,930 – $118,330
Change since yesterday: + $420 (+0.36%)
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🔍 Market Dynamics & Key Drivers
1. Record-Breaking Rally & Profit Taking
Bitcoin surged past its all-time high of $123,000 on July 14, fueled by strong institutional demand and optimism around upcoming U.S. “crypto week” legislation .
After hitting highs, BTC has retraced to around $117K—likely due to profit taking, especially from large exchanges and whale investors .
2. On‑Chain & Institutional Activity
Exchanges recorded a spike in BTC inflows on July 15, signaling potential short-term sell pressure as whales look to cash in .
U.S. spot Bitcoin ETFs attracted roughly $14.8 billion in inflows year‑to‑date, reinforcing institutional appetite and helping push prices higher .
3. Regulatory & Institutional Tailwinds
U.S. Congress, led by Republicans, is set to vote on major digital‑asset bills this week — dubbed “crypto week” — boosting confidence in regulation clarity .
Standard Chartered launched institutional spot trading for BTC (and ETH), marking increased acceptance by traditional banks .
4. Whale Activity & Market Sentiment
A Satoshi-era holder moved $4.6 billion worth of BTC after 14 years, raising speculation around large-scale selling or market adjustments .
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🧭 Bottom Line
Bitcoin continues to ride a wave of bullish sentiment driven by record-setting prices, rising institutional adoption, ETF inflows, and the sale of fresh legislation. Though we’re now in a retracement phase (around $117K), prevailing support levels (roughly $114–115K) and strong fundamentals suggest the uptrend remains intact—key resistance now sits at $123K, while support lies near $113K.
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📌 Key Price Levels to Watch
Resistance: $123,000 (all-time high)
Support: $113,000–$115,000 (pump base zone)
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