Bitcoin is challenging resistance levels near $114,000 after recovering from recent lows of $110,000, facing a critical barrier between $114,000 and $119,000 that will determine its near-term trajectory.
Strong institutional confidence continues as Japanese investment firm Metaplanet purchased 463 Bitcoin worth $49.3 million, increasing its total holdings to 17,595 BTC. This acquisition reinforces the sustained institutional demand for cryptocurrency assets.
Bitcoin’s market dominance has simultaneously declined to 61.97%, reaching levels unseen since early June. This drop suggests potential capital rotation toward altcoins as investors explore opportunities beyond Bitcoin.
Analysts caution that failure to breach the $116,000 resistance soon could trigger a retest of $110,000 support. However, a return of bullish momentum keeps September all-time highs in play. Author Robert Kiyosaki anticipates a potential August dip below $90,000, characterizing it as a strategic buying opportunity.