Bitcoin – The Relentless Climb Faces a Critical Test
Price: $118,265.90 (+0.96%)
Market Cap: $2.35T | 24h Volume: $58.46B
Bitcoin continues its upward grind, maintaining dominance above the $118K mark. The modest daily gain suggests strong underlying demand, with liquidity inflows outpacing sell pressure. On-chain metrics from Glassnode reveal increased whale accumulation over the last seven days, signaling institutional confidence. However, derivatives data from Coinglass shows a rising funding rate, hinting at possible short-term overheating.
Projection: If BTC holds above $117K with sustained volume, a test of the $120K psychological barrier is likely. Failure to defend $115K could invite a swift correction toward $112K.
Reflection: For traders, BTC remains a core hold, but leverage should be tightly managed as volatility spikes near ATHs.
Will Bitcoin break $120K before the month ends?
