📍 Bitcoin is dancing before macro news: Will $120K hold or be quickly surpassed

Bitcoin just bounced to an intraday high near $122K and then fell back to $119K — the resistance zone at $120K remains a significant technical barrier. A breakout will trigger another bullish wave, while a breakdown will pull it back into a range that needs to be monitored.

Long-term profits are narrowing — after a month of massive profit-taking in July (> $1 billion per day), long-term investors are now selling less, providing solid momentum for prices to rise. Meanwhile, active addresses have increased by +15% over the past 10 days — a sign that new retail flows are entering the market.

The Bitcoin network is becoming active again, with increased activity helping to reinforce market confidence. $BTC