Bitcoin Faces Key Resistance at $114K as Institutional Interest Grows and Dominance Declines
Main Idea
Bitcoin is testing key resistance levels near $114K amid strong institutional interest, while its market dominance declines, potentially signaling a shift towards altcoins.
Key Points
1. Bitcoin is facing resistance between $114K and $119K after rebounding from a dip to $110K.
2. Metaplanet acquired 463 BTC for $49.3 million, increasing its total holdings to 17,595 BTC, reflecting strong institutional demand.
3. Bitcoin's dominance has declined to 61.97%, suggesting a potential shift in investor interest towards altcoins.
4. Analysts note that if Bitcoin fails to break above $116K soon, it could dip back to $110K, but a new all-time high in September remains possible if momentum returns.
5. Robert Kiyosaki suggested Bitcoin might fall below $90K in August, viewing it as a buying opportunity.
Description
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