$BTC is walking a tightrope between institutional demand, macro liquidity changes, and regulatory uncertainty. The bullish trend is strong — but risks from derivative products and altcoin flows could disrupt this trend.
🚀 Main Drivers
1. Corporate buyouts: MicroStrategy added another 4,020 $BTC in June, while Mexican real estate giant Grupo Murano announced a $1 billion #BTC treasury investment. The reduced liquidity supply adds further upward pressure.
2. Regulatory catalysts: The upcoming White House cryptocurrency policy report on July 22 may propose a #Bitcoin Reserve — similar to El Salvador's strategy. Sovereignty adoption would be an important confirmation.
3. Resistance level $120,000 — a psychological barrier. A breakout here could indicate strong bullish momentum… or trigger mass liquidations if excessive leveraged positions are broken.
📉 Market Context & Risks:
– The dominance of $BTC has decreased from 64% to 58.51% as the ETH ETF inflow reached $2.12 billion per week
– 74% of BTC is being stored cold and 75% has not been moved in over 6 months
– Open interest in derivative products reached $849 billion, with liquidations surging 179% in 24 hours
– Average funding rate: +0.012% — the market seems too hot
🔍 Technical:
– Resistance levels: $120,000 and $123,000
– Breakout target: $129.8K (Fibonacci extension)
– Support: $110.7K and $103.6K
⚡ Conclusion
Will institutional demand surpass the rotation of altcoins? Can the White House report reverse market sentiment and attract more liquidity — or will it all collapse under the weight of excessive leveraged bets?