🌑 $BTC is stabilizing around $113K as institutional inflows mark the territory
Current price and technical structure
Bitcoin is trading at $113,031, after fluctuating between $112,757 and $114,726. The price is in a consolidation zone after falling from July's highs. It is currently forming a descending wedge, holding key support to avoid deeper corrections.
Key factors
Notable daily net inflow: ETFs achieve +$1B in inflows, despite the recent technical adjustment, supporting institutional demand.
Deutsche Bank highlights the institutional strength behind the rally, citing increasing exposure from retirement funds and solid structural mechanisms.
Key technical level
Immediate support: $113K
Nearby resistance: $114.7K
Critical zone: staying above $113K could spur a rebound towards $115K–$120K, while yielding that level risks a correction towards $108K–$110K.
Macro/institutional outlook
The steady flow of capital into ETFs, along with regulatory and macroeconomic backing, strengthens the bullish narrative. Still, the market weighs global events and potential policy adjustments. If BTC breaks above $123K–$125K with strength, we could look for new all-time highs.
Do you think BTC will bounce today and aim for $120K, or do you foresee a correction towards $108K? Share your view 👇
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