New 401(k) Rules and ETF Buying Push $BTC to Multi-Month Highs
$BTC has smashed through the $117K resistance, climbing over 5% to hit $123,429, its highest level since mid-July. The breakout, driven by strong institutional
demand, comes after weeks of consolidation and now sets sights on the next
target zone between $127K and $131K.
Analysts point to Fibonacci extensions placing upside targets at $127K, $137K,
and $153K if momentum continues. A “volume shelf” near $116K–$118K
is now acting as a base for further gains.
Market sentiment is being fueled by new U.S. rules allowing crypto in 401(k)
retirement plans, triggering fresh ETF inflows and record adoption.
On-chain data shows 364,126 new BTC addresses created daily—a yearly
high—while long-term holders keep accumulating.
With institutional buying, policy tailwinds, and reduced exchange supply, $BTC
could be gearing up for its next major rally.
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