#BTCReclaims120K Bitcoin's recent price surge has led analysts to predict it could hit $120,000 soon. Here's what's driving the price ¹ ²:

- *Institutional Demand*: Growing interest from institutional investors, with companies accumulating Bitcoin through ETF vehicles.

- *Macroeconomic Factors*: Potential Federal Reserve rate cuts and global liquidity expansion.

- *Technical Breakout*: Bitcoin's price breaking out above key resistance levels, such as $110,500 and $117,335.

*Key Price Levels:*

- *Support Levels*: $120,000, $116,000, and $110,000.

- *Resistance Levels*: $122,055 and $130,000.

*Market Sentiment:*

- *Bullish*: Analysts predict Bitcoin could reach $120,000 to $130,000, driven by strong technicals and growing institutional interest.

- *Caution*: Elevated leverage ratio and record open interest on Binance may lead to increased volatility ³.

*Current Price:* Bitcoin is trading at $122,300.85, with a 3.58% increase in the last 24 hours ⁴.