Bitcoin Summary Today
📉 Price and Market
• The value of Bitcoin is around US$ 118,437, with a slight decrease of 0.7% compared to the previous close.
• In the daily chart, there is consolidation within a “descending wedge.” After breaking the upper resistance, the price pulled back to test this zone now as support — a potential signal for continued appreciation.
📰 Main News
• Amid “Crypto Week” — the “Genius Act” was sanctioned in the USA, paving the way for promising regulations that excite the crypto sector and contributed to a slight rise today.
• Recent data indicates that, despite Bitcoin's sideways movement, altcoins like Solana have gained prominence: $SOL rose to over US$ 200, outperforming BTC in returns over the past weeks.
• Environmentalists reinforce the debate: each Bitcoin transaction generates about 600–700 kg of CO₂, consumes approximately 17,000 liters of water, and produces 130 g of electronic waste, serious environmental impacts compared to the use of AI.
🔍 Outlook & Technical Analysis
• The descending wedge pattern broke upward, and the current test of the old top as support is crucial. A confirmation could lead the $BTC to regain momentum towards US$ 120,000 or more.
• The strength in ETFs remains solid. Despite a brief pause in flows (a drop of US$ 131 million on 22/7), the accumulated volume continues strong, reinforcing Bitcoin's dominance over altcoins.
• Analysts suggest a new record is on the radar: cooper Research projects US$ 140–150 thousand by October, although Biloshnode/Glassnode indicate that US$ 200 thousand is still unlikely this year.
