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Bitcoin’s $120K Case: Built on Charts, Confirmed by a $600M ETF Flood

2025-07-04 10:45:19

Main Idea

Bitcoin's potential rise to $120K is supported by technical chart patterns, significant institutional investments in Bitcoin ETFs, and increased whale accumulation, with political developments also playing a role.

Key Points

1. Major institutions like BlackRock and Fidelity invested over $600 million in U.S. Bitcoin ETFs, indicating strong institutional demand.

2. On-chain data shows the largest weekly increase in 'whale' accumulation (wallets holding over 1,000 BTC) since early 2024.

3. Technical analysis by Lark Davis highlights a potential 10% upside to $120K, supported by bullish chart patterns and MACD indicators.

4. Elliott Wave theory suggests a third-wave rally toward $116K, contingent on Bitcoin holding the $107,100-$108,300 support range.

5. Political catalyst: Trump's executive director Bo Hines suggested the crypto market cap could reach $15–$20 trillion with stablecoin legislation, potentially boosting Bitcoin's value.

Description

Major institutions like BlackRock and Fidelity just poured over $600 million into U.S. Bitcoin ETFs This institutional buying provides hard-money confirmation for technical analyses targeting $120K On-chain data also shows the biggest weekly spike in “whale” accumulation since early 2024 Evidence is mounting that Bitcoin may be preparing for another major rally, as technical chart patterns, on-chain whale activity, and a surge in institutional buying all begin to point in the same direction. As ...

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