š 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?
š Why is Bitcoin rising?
šµ Dollar is falling: 5% devaluation in DXY makes BTC more attractive.
š¦ ETFs on the rise: IBIT and FBTC have over $1.4 billion in inflows just in July.
š£ Mass liquidations: over $1.25 billion in shorts were liquidated in the last 24 hours.
š Network heated: daily transactions jumped from 340 thousand to 364 thousand.
š Technical Analysis
š”ļø Strong support: between $108,795 and $110,624, 645 thousand addresses bought BTC.
šÆ Nearby targets: breaking $118,400, BTC could aim for $120 thousand and $135 thousand.
ā ļø Technical risk: high RSI may indicate overbought ā pay attention to support at $109,632.
š§ Market Sentiment
š Fear and Greed Index points to high greed.
š Most holders are in profit ā a sign of confidence and consolidation.
š¦ Institutional Impact
š§ MicroStrategy continues to accumulate BTC.
š Shares of crypto companies like Coinbase and Marathon Digital are rising.
āļø Network hash rate increased ā miners are confident in the long term.
$BTC
#BinanceTurns8 #CryptoNews #Bitcoin120K