Bitcoin’s price has demonstrated resilience by maintaining its position above the critical $116,652 support level. Market analysts indicate a potential 37% surge to $165,745 is achievable if the current bullish breakout continues.
Institutional investors have significantly reinforced market confidence, acquiring 5,871 BTC worth $705 million over the past week. Bitcoin exchange-traded funds (ETFs) mirrored this demand with substantial inflows, including a single-day influx of $297.4 million recorded on July 14.
Notably, a dormant cryptocurrency wallet moved 20,000 BTC valued at $2.4 billion after 14 years of inactivity, signaling heightened whale participation in the current market cycle.
Supporting the optimistic outlook, Bitcoin’s market capitalization holds steady at approximately $1.814 trillion. This sustained institutional endorsement, combined with accelerating capital inflows, underscores a fundamentally bullish trajectory for the leading cryptocurrency.