Bitcoin’s $118K Breakout: Key Level for Potential All-Time High Amid Strong Demand and Market Dynamics
Main Idea
Bitcoin is testing the critical $118K level, which could determine its next move towards a new all-time high, driven by strong institutional demand and market dynamics.
Key Points
1. $118K is the decisive breakout level for Bitcoin’s next potential all-time high.
2. Institutional buying has surpassed new BTC supply, with 545,579 BTC purchased compared to 97,082 BTC in new supply.
3. Short liquidations above $125K could fuel significant price gains.
4. Market leverage influences Bitcoin’s price by amplifying movements, with cooling leverage potentially reducing volatility.
5. Retail investors are also accumulating Bitcoin, contributing to demand and price momentum.
Description
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