Bitcoin May Face Volatility Near $120,000 Resistance Amid Mixed Investor Sentiment and Accumulation

Key Points

1. Over 1.38 million BTC ($163 billion) has been accumulated between $115,500 and $120,000 in a short period, indicating strong market interest and potential volatility.

2. The declining Bitcoin Flow Pulse suggests long-term holders are cautious, which may reduce immediate selling pressure but also limit upward momentum.

3. Bitcoin's price is consolidating between $117,261 and $120,000, reflecting market uncertainty, with support at $115,000 acting as a buffer against downside risks.

4. Potential scenarios include a breakout above $120,000 if bullish sentiment persists or a retracement below $117,261, with strong support limiting further declines.

5. The market's next move will depend on the balance between buyers and sellers, with short-term and new investors driving recent accumulation.