"Bitcoin just broke $122,000! ๐ That's a 3.4% increase from the previous range of $118,000. The daily chart shows a breakout with volume confirmation, and trading volume has been above $15 billion for three days straight.
So, what's driving this surge? ๐ค
- Macroeconomic and Geopolitical Premiums: The Trump administration's tariff announcement has boosted demand for safe-haven assets like Bitcoin.
- Institutional Fund Inflows: Spot ETF markets are seeing strong buying interest, with a net inflow of $309 million on July 14. BlackRock's IBIT product is leading the charge.
- Leverage Effects in Derivatives Market: Open interest in futures markets is growing, and trading volume is surging.
What's next for Bitcoin? ๐ค
- Benchmark Scenario (65% probability): If CPI data meets expectations and ETF inflows continue, Bitcoin may test the $125,500 resistance level within 24-48 hours, potentially targeting $130,000-$136,000.
- Risk Scenarios (35% probability): If inflation data exceeds expectations or geopolitical risks ease, prices may retrace to $118,200 or the $114,000-$115,000 range.
To manage risk, consider a dynamic stop-loss strategy with $117,700 as a defensive line for bullish positions. Stay alert and adapt to changing market conditions! ๐ #BTC
