Bitcoin Nears $120,000 Resistance Amid $1.5 Billion ETF Inflows and Potential Rally Factors

Key Points

1. Bitcoin spot ETFs attracted over $1.5 billion in inflows in the last 48 hours, reflecting growing institutional confidence.

2. The Network Value to Transaction (NVT) ratio has normalized, suggesting a balanced market condition despite recent price spikes.

3. Bitcoin's ability to consolidate above $120,000 and push past $122,000 could lead to new all-time highs, while failure may trigger a retracement toward $115,000.

4. Institutional ETF inflows provide market stability and liquidity, but short-term price volatility remains a risk.

5. Market participants should monitor volume trends and ETF inflows as indicators of Bitcoin's ability to overcome resistance.