Bitcoin: The Frenzy of Institutions and Technical Drivers

$BTC rose 0.63% in 24 hours as institutions accumulate, technical indicators turn bullish, and geopolitical instability drives demand.

Key Factors:

1. Corporate Purchases - MicroStrategy has signaled additional BTC purchases after buying 4,225 BTC in July, while 21 companies have added $810 million to reserves.

2. Technical Strength - The price holds above key moving averages with MACD and RSI bullish at 65 indicating growth potential.

3. ETF Demand - $363 million has flowed into Bitcoin ETFs amid a search for safe havens due to tensions between Israel and Iran.

Risks to Watch:

- Miners sold 16,000 BTC on July 15

- The UK plans to sell $7 billion of seized BTC, creating potential selling pressure.

The resistance level of $123,000 is a key breakout target, but slowing ETF inflows could lead to a pullback. Altcoins are attracting attention as the Altcoin Season Index hits 50.

Is this the time to buy in as prices break out or wait for a potential dip? Share your thoughts below.