#Solana期货交易量创新高 💰 As of July 28, 2025, the Bitcoin price is reported at **$119,552** (approximately $119,550), with a daily increase of 1.1%, approaching the key resistance level of $120,000.

**Driving Factors**:

1. **US-EU trade agreement** reduces tariff uncertainty, boosting demand for risk assets;

2. **Market cautious sentiment** persists, due to the upcoming Federal Reserve interest rate decision (July 30) and the US cryptocurrency policy report, which may impact liquidity expectations and regulatory direction.

**Technical Signals**:

- The 4-hour chart forms a "golden cross" (the 20-day moving average crosses above the 50-day moving average), RSI is bullish, but the resistance at $120,000 is strong, requiring an effective breakout to open up upside potential.

- Derivative positions are increasing; if a breakout occurs, it may trigger a short squeeze, pushing the price to test the historical high of $123,218.

**Short-term Risks**: If it falls below the support of $118,000, it may pull back to the range of $116,000-$111,000.