🚀 Bitcoin surpasses $113K with institutional purchases $BTC
Bitcoin continues to rise, consolidating after a jump to the $124K mark. Currently, the price fluctuates between $111K and $115K, driven by a cautiously optimistic market sentiment.
With 73.2% of traders on Binance showing optimism, the market reflects a transition from "extremely bullish" to a more neutral "cooldown," but still with strong support. This support is solidly established near $110K, with 92% of BTC holders in profit.
Institutional activity remains a key factor. Strategy.com acquired 430 BTC ($51.4M), and BlackRock's IBIT ETF recorded an inflow of $508.7M. Although overall institutional accumulation has slowed, the ratio of retail to institutional addresses has risen to 2,060.60, indicating growing interest from large investors.
Trading Outlook
* Resistance: $118.5K
* Support: $110K-$111K
* A breakout above $118.5K could lead the price to seek $130K, while a failure could test support at $105K.
Technical analysis points to the breakout of a bearish pattern, but long-term projections remain optimistic, with potential targets between $132K and $170K.
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