#BTCReclaims120K Bitcoin has regained the $120,000 level, supported by rising institutional interest, increased futures open interest, and bullish macro sentiment.
Spot trading volume—especially on Binance—spiked, reinforcing the upward momentum.
BTC bounced from strong support near $116K before reclaiming $120K, boosting bullish sentiment.
Open Interest + Spot Volume: A surge suggests traders are positioning for a potential breakout.
Analysts like BitBull and Rekt Capital note that a further 10% move up could trigger over $18B in short liquidations, possibly leading to a short squeeze.
Key Resistance: $123K–$127K
Key Support: $116K–$117K
Miner Activity: In just one day, miners sent over $2B worth of BTC to Binance—likely profit-taking, which could cause short-term selling pressure.