Bitcoin Consolidation Near $120,000 Suggests Potential Breakout Amid Market Uncertainty

Key Points

1. Bitcoin is trading between $115,000 and $120,000, with bullish indicators suggesting a possible surge to new highs above $123,218 and $135,000.

2. Ether's perpetual futures volume dominance has surpassed Bitcoin's, signaling increased speculative interest in altcoins.

3. Key altcoin levels: ETH aims for $4,094 resistance, BNB tests $794 support, and XRP faces resistance at $3.16.

4. A Bitcoin breakout above $120,000 could trigger upward momentum, while a drop below $115,000 risks a decline to $110,530.

5. Institutional confidence is shown by a firm's acquisition of 21,021 BTC, increasing total holdings to 628,791 BTC.