🔥 $BTC holds $118K while institutional flows return—new attempt towards $123K?
📊 Current price and clear technical structure
Current price: $118,368 (intraday close)
Daily range: $117,248 – $119,535
Bitcoin consolidates after reaching $120K and forms a consolidation pattern within a rising wedge suggesting a possible resumption of momentum.
⚙️ Key factors
The ETF wave remains strong: spot products captured $6B in July, with over $2.7B in BTC funds alone, marking a monthly record.
Although there were $131M in ETF outflows on Monday, temporarily stalling the inflow streak, the overall sentiment remains strong.
SpaceX moved 1,308 BTC (~$153M) from an inactive wallet: possible reorganization of institutional treasuries.
Deutsche Bank highlights intense institutional legitimization, mentioning indicators like reserve strategy and regulations like the Genius Act as momentum drivers.
🔧 Technical level of the day
📌 Support: $117,000–$118,000 (recent lows)
📌 Resistance: $119,500–$120,250
🎯 Critical zone: maintaining above $118K would allow resuming the rally towards $122K–$123K
🌐 Institutional outlook / macro view
ETFs have mobilized nearly $15B just in BTC during 2025, far exceeding 2024 figures and consolidating Bitcoin as a defensive and structural inflationary asset. Institutional buying continues to trend; its recent inclusion in reserves like Trump's proposal reinforces its narrative as “structural digital gold.”
Do you think we are already on our way to $123K or will we see prolonged consolidation above $118K? Comment on your strategy 👇
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