#BTCHashratePeak
๐ **Current Metrics**
- **Price**: **~$119,782โ$122,321** (near all-time high of **$123K**) .
- **24h Change**: **+0.8%โ2%** .
- **Market Sentiment**: **Bullish** (Fear & Greed Index: 67) .
โก **Key Drivers**
1. **Technical Breakout**:
- Breached **$118,000 resistance**, eyeing **$131,000** next (Fibonacci extension) .
- Trading above **50-day EMA** ($115,592), with RSI at **63** (room for upside) .
2. **Institutional Demand**:
- Spot Bitcoin ETFs saw **$935M inflows** (Aug 9); public companies hold **628K+ BTC** ($74B+) .
3. **Macro Catalysts**:
- Cooling US CPI (Aug 12) could weaken USD, boosting BTC .
- Trump-era policies (e.g., 401(k) crypto inclusion, debt expansion) fueling rallies .
โ ๏ธ **Risks & Levels**
- **Support**: **$118,000** (volume shelf), **$115,700** (Fibonacci) .
- **Resistance**: **$123,000** (ATH), **$131,000** (next target) .
- **Caution**: Overbought signals; altcoin rotation may pressure BTC dominance .
๐ **Outlook**
**Bullish consolidation**. A close above **$123,000** could trigger a run to **$131,000+**. Watch CPI data and USD strength for volatility .
> *"BTCโs cycle is evolvingโ70โ80% crashes are unlikely now due to institutional absorption."* โ Analysts .
