🔥 $BTC positions itself above $118K after slight consolidation: new bullish phase?
📊 Current price and clear technical structure
Current price: $118,161 (verified actual data)
Intraday range: between $117,496 and $119,800
A slight consolidation is perceived after reaching highs near $120K, with a bullish wedge forming on medium-term charts, which suggests a possible resumption of bullish momentum.
⚙️ Key factors of the day
Weekly net inflows to BTC ETFs exceed $2.7B, reflecting institutional preference for regulated crypto exposures.
Although there were ETF outflows of $131M today, this did not weaken the underlying trend, which remains strong.
Portfolio movements: SpaceX transferred 1,308 BTC (~$153M), which could be interpreted as strategic relocation, not liquid.
Bitwise warns that the traditional 4-year cycle (halving) is losing strength due to the increasing relevance of institutional flow and the favorable regulatory framework of the GENIUS Act.
🔧 Technical level of the day
Support: $117,000–$118,000 (base of the wedge)
Resistance: $119,500–$120,000
Critical zone: staying above $118K allows for a rebound towards $122K–$123K
🌐 Institutional outlook / macro vision
The market no longer depends exclusively on the halos – now it is a constant flow of regulated capital that sustains the rally. Deutsche Bank and analysts project sustained momentum towards $200K in this cycle, thanks to the adoption of ETFs and a friendly regulatory stance.
Will Bitcoin break $120K tonight or will we see a silent consolidation? Let us know below👇
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