#山寨季來了？ Today's Bitcoin (BTC) Market Overview:
Current price is approximately $117,155, down about 1.0% from yesterday, with intraday fluctuations between $116,751 and $119,524. The technical aspect shows that the price has recently fluctuated within a symmetrical triangle range; if it can break through the resistance at $119,000, it is expected to continue the upward trend, targeting the $122,000–$123,000 area.
The main market driver comes from the continuous inflow of institutional funds. Since July, BTC ETFs have accumulated a net inflow of over $5.2 billion, with a single day recording a massive inflow of $1.18 billion; BlackRock's IBIT asset management scale has surpassed $80 billion, boosting market enthusiasm.
In addition, the U.S. has recently introduced a series of crypto-friendly policies, such as the Genius Act and the Clarity Act, providing institutional guarantees for Bitcoin and thereby enhancing institutional allocation willingness. Nevertheless, institutional allocation is still mainly retail-oriented, and the participation of pension funds and sovereign funds still needs to be increased.
If the price pulls back to the $116,800–$117,200 area, consider gradually entering positions on dips; if it can effectively break through $119,000 with volume, gradually increase positions, targeting $122,000–$124,500; if it falls below $116,700, one should be cautious of the risk of a pullback.
Overall, in the short term, BTC maintains a fluctuating upward pattern, supported by ETF funds and policy drives, and if it breaks through, it will soon enter a new round of rising phase. Investors can continue to pay attention to trading volume and policy follow-up. $BTC
