The continuation of the scenario, with a weekly close at this level, could pave the way for BTC to seek $122,000. Despite the record in dollars, the asset is traded in reais for R$620,000, still distant from the high of R$660,000 reached when the dollar was more valued. Understand everything!
Bitcoin accumulates +22% in 30 days and reaches a new high: $109,800
The week was marked by positive macroeconomic indicators in the United States and the United Kingdom. As a reflection, the S&P 500 broke the consolidation below 5,781 points and started the week on a high note, approaching historical highs.
Bitcoin followed the optimistic tone and recorded its highest weekly close in history, around $106,000. As a consequence, which we anticipated in the last email, it confirmed the movement by reaching a new historical record of $109,500 this Wednesday. This advance reflects the strong institutional appetite combined with a structurally favorable environment for the rise. With over $1 billion in inflows via ETFs in recent days, the spot market has consolidated as the main driver of this appreciation.
In addition, the Long/Short Ratio (LSR), which measures the relationship between long and short positions, has remained below 1 since April, indicating that the market is still predominantly short. This imbalance, amid increasing buying pressure, creates a favorable environment for additional liquidations, which tends to amplify the upward movement.
If Bitcoin maintains its weekly close (Sunday at 9 PM Brasília time) above the current level, the next technical targets are positioned between $116,000 and $122,000. The current cycle is clearly constructive, supported by consistent fundamentals and a robust institutional flow, which may continue to drive the asset in the coming weeks.