🚀 Bitcoin Nears $126K — Key Levels to Watch This Week!
Bitcoin ($BTC ) gained +2.85% in the last 24h, trading at $121,819, and is up +6.3% this week.
📌 Macro View – Traders are watching upcoming U.S. CPI & PPI data, with a 63.6% chance of a Fed rate cut in September, potentially boosting BTC’s hedge appeal.
📌 Technical Setup – Price is holding above the 30-day SMA ($117.3K) and 7-day EMA ($116.8K). Next resistance sits at $126.1K, while $114.3K acts as support.
📌 Institutional Demand – ETFs added $91.6M, and corporate treasuries invested $53.7M, tightening supply.
📊 Closing above $123.1K could extend momentum, while a dip under $120K may lead to short-term profit-taking.
