๐ Bitcoin Rising: Records, ETFs, and the Path to $120 Thousand
BTC surpassed $118 thousand and has accumulated over 60% appreciation since April. But is this climb just beginning?
๐ Why is Bitcoin rising?
๐ต Dollar is falling: 5% devaluation in DXY makes BTC more attractive.
๐ฆ ETFs on the rise: IBIT and FBTC have over $1.4 billion in inflows just in July.
๐ฃ Mass liquidations: over $1.25 billion in shorts were liquidated in the last 24 hours.
๐ Network heated: daily transactions jumped from 340 thousand to 364 thousand.
๐ Technical Analysis
๐ก๏ธ Strong support: between $108,795 and $110,624, 645 thousand addresses bought BTC.
๐ฏ Nearby targets: breaking $118,400, BTC could aim for $120 thousand and $135 thousand.
โ ๏ธ Technical risk: high RSI may indicate overbought โ pay attention to support at $109,632.
๐ง Market Sentiment
๐ Fear and Greed Index points to high greed.
๐ Most holders are in profit โ a sign of confidence and consolidation.
๐ฆ Institutional Impact
๐ง MicroStrategy continues to accumulate BTC.
๐ Shares of crypto companies like Coinbase and Marathon Digital are rising.
โ๏ธ Network hash rate increased โ miners are confident in the long term.
$BTC
#BinanceTurns8 #CryptoNews #Bitcoin120K