In the past few hours, the price of $BTC has surged above 118,000USD sparking renewed optimism across the market.

From a technical perspective:

Bitcoin has broken through a key resistance level, indicating the start of a potential uptrend.

Moving averages (MA50 and MA200) show a bullish crossover.

The Relative Strength Index (RSI) remains below the overbought zone, suggesting further upside without heavy selling pressure.

Liquidity is clearly increasing on exchanges, supporting ongoing momentum.

From a market standpoint:

Institutional interest in Bitcoin is on the rise

Whales are back in action, with a growing number of large wallets

The decreasing supply on exchanges suggests a "hold" mindset rather than selling

Outlook?

If BTC holds above the $63K level, we may see a push toward $70K and potentially $74K in the coming weeks, though minor pullbacks could occur.

What’s your take on this?

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