Current Price: $116,377.09
24h Change: +2.00%
Market Cap: $2.31T
24h Volume: $56.50B
Analysis:
Bitcoin’s break above $116K signals renewed institutional confidence, supported by rising ETF inflows (BlackRock’s iShares BTC ETF added $275M this week alone).
The daily RSI sits near 63—approaching overbought, but not yet in the danger zone. The 200-day MA and support at $112K held firm through last week's dip, reinforcing bullish structure.
Macro Insight:
CryptoQuant notes whale accumulation at the $113K–$115K range, indicating long-term holder confidence. CME futures also show growing open interest, reflecting a healthy derivatives market.
Future Outlook:
If BTC sustains above $115K for 72 hours, the next target is $122K–$125K. Failure could trigger a pullback to $110K.
Strategic Reflection:
Bitcoin is now acting as a macro hedge again—not just a crypto asset. This reinforces its dominance and market leadership.
