Bitcoin Price Prediction: $218M Satsuma Raise and SMA Retest Hint at $123K Breakout

Key Points

1. Bitcoin is trading above $114,000, defending its ascending trendline and 50-day SMA, with RSI nearing a bullish crossover.

2. Satsuma Technology raised $217.6M in BTC-denominated funding, backed by major investors like Pantera Capital and Kraken, despite a 14% stock dip attributed to short-term volatility.

3. Institutional interest is growing, with Michigan State Retirement System tripling its Bitcoin ETF exposure and Japan’s SBI Holdings planning a Bitcoin-XRP ETF.

4. Technical analysis suggests a potential breakout above $123K if key supports hold, with possible targets at $131K or $138K in the near term.

5. Bitcoin Hyper ($HYPER), a BTC-native Layer 2 project, has raised over $7.3M in its presale, combining Bitcoin’s security with Solana’s speed.