Bitcoin Eyes $120K as Institutional Inflows Continue

Bitcoin (BTC) $BTC is nearing the psychological resistance level of $120,000 as institutional inflows show no signs of slowing. Data from Glassnode reveals over $1.2 billion entered BTC ETFs this past week alone. Asset managers like BlackRock and Fidelity continue to accumulate spot Bitcoin, increasing their long-term holdings. The bullish momentum is supported by tightening BTC supply on exchanges and macroeconomic uncertainty driving demand for hard assets. Meanwhile, MicroStrategy added another 1,000 BTC, bringing their total holdings to over 180,000 coins. Analysts predict that if BTC breaks $120K with strong volume, it could trigger a new leg up toward $135K. On-chain metrics show accumulation by long-term holders is at a yearly high. With the halving still impacting supply dynamics and growing global interest in BTC as a hedge, the current setup suggests a strong continuation of the bull cycle. Bitcoin’s dominance also rose to 52.4%, indicating market confidence.