🚀 $BTC holds at $118k while a whale bets $23.7M on a rally towards $200k

Current price and technical structure

Current price: around $118,300, consolidating between lows of $117,141 and highs of $120,089, according to recent data.

Forming a bullish wedge on the daily chart, indicating potential continuation of trend.

Key factors

Institutional options: a whale has executed a bull call strategy valued at $23.7M, betting that BTC will reach $200K by the end of the year.

Strong flows: ETFs have accumulated nearly $50B in inflows this year, and just in July alone they sum more than $13.5B, with strong participation from IBIT.

Robust demand: at the same time, the rally has been supported more by institutional liquidity than by speculation, according to recent reports.

Key technical levels

Level Price

Support $117,000–$118,000

Resistance $120,000–$120,250

Critical zone Maintain above $118K to look for $122–$123K

Institutional / macro outlook

The combination of sophisticated strategies (options), massive ETFs, and strategic moves (such as cumulative buying of MSTR) reveals a growing demand from large players. The momentum suggests that BTC is aiming high, as long as it stays at these key levels.

Do you think $BTC will reach $200K this year or do you prefer a more gradual rally? Respond below or .

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