Market Momentum

Bitcoin reached $118,869.98 on July 12, stabilizing at $117,644.81 (+5.38%). Technical indicators remain bullish with strong support at $116,000. A bull flag breakout pushed prices beyond previous resistance (BTC Breaks $113K ATH), triggering $2.5 billion in short liquidations.

Institutional Drivers

• ETF inflows and corporate treasury acquisitions tightening supply

• Large transactions exceeding 2,143 BTC during peak hours (BTC Crosses 117K)

• Long-short ratio surged to 117.64

• MicroCloud Hologram allocated $200 million to BTC reserves

Trading Outlook

Market sentiment is 91.49% bullish, with key developments driving momentum:

• Regulatory progress: GENIUS stablecoin and CLARITY bills advancing

• Short squeeze potential below $117K (BTC Hits 118K)

• Risk factors: 20x leveraged shorts and price discovery volatility

Traders should monitor $116K support, ETF flows, and regulatory updates as primary decision points.