Market Update: $BTC Bitcoin Breaks Key Level

Bitcoin$BTC

jumped above $120,000, reaching $122,300, with strong $76.55B trading volume.

Price is stabilizing between $121,954 and $122,332, showing the market is digesting recent gains.

Total crypto market cap is solid at $2.43 trillion, showing strong institutional interest.

Key Drivers:

Technical indicators suggest bullish momentum with moving averages pointing up.

El Salvador's new law lets banks hold Bitcoin, boosting confidence.

Large investors (whales) are buying more, increasing upward pressure.

U.S. regulatory uncertainty remains as no clear policy is announced yet.

Trading Outlook:

Support is strong between $115,000-$117,000 from past buying zones.

Breaking above $125,000 with volume could push price toward $137,000-$140,000.

Rising USDT$USDT margin debt (0.87%) shows more leveraged bets, increasing volatility risk.

Community is mostly bullish (89.8%) vs bearish (10.2%), hinting at possible crowded trades #BTCReclaims120K #ETH4500Next? #Binance #USDT #bitcoin