Price: $120,720
24h Change: +1.88%
Market Cap: $2.40T | Volume 24h: $76.56B
Bitcoin continues to dominate the crypto ecosystem, controlling over 50% of the market capitalization. The latest surge, although modest compared to altcoins, shows strong institutional demand. According to Michael Saylor, Executive Chairman of MicroStrategy, “Bitcoin is entering its ultimate scarcity phase; every dip is becoming shorter and shallower.”
Technically, BTC is trading well above its 200-day EMA, confirming a macro bullish structure. Support lies near $115,000, while resistance is tightening around $125,000. A breakout could set the stage for a run toward $135,000.
Projection: If macroeconomic conditions remain stable and ETF inflows continue, BTC could retest all-time highs before year-end. However, market volatility near the U.S. elections may test its resilience.
Strategic Reflection: BTC’s dominance means its moves set the tone for the entire market. Traders should track whale activity closely, as spot movements often precede derivatives positioning.
