Bitcoin (BTC) continues its impressive rally, hovering around $108,000 this Monday with a 7.32% weekly gain. The cryptocurrency closed Q2 with a staggering 30% quarterly return — its strongest Q2 performance since 2020 — as institutional demand reaches new heights.
Key Market Developments
- ETF inflows hit $2.22B last week — highest since May 2023
- Metaplanet acquires additional 1,005 BTC, totaling 13,350 BTC holdings
- BTC nears all-time high of $111,980 reached on May 22
- July historically bullish with average 7.56% returns
Institutional Demand Fuels the Rally
Corporate and institutional interest continues accelerating:
- Japanese firm Metaplanet announced a $208M bond issuance to fund further Bitcoin acquisitions
- Spot Bitcoin ETFs recorded $2.22B weekly inflows per SoSoValue data
- 50-day EMA ($104,126) now serves as strong support level
👉 Why institutional investors are flooding into Bitcoin ETFs
Technical Analysis: Path to New Highs
Current indicators suggest continued upside potential:
- RSI at 56 (bullish momentum)
- MACD bullish crossover confirmed on daily chart
- Immediate resistance at $111,980 ATH
- Next target: $120,000 upon breakout
BTC/USDT Daily Chart Analysis
July Outlook: Seasonal Trends Favor Bulls
Historical data reveals Bitcoin's strong July performance:
- Average return: +7.56%
- 2024 factors: ETF inflows, macroeconomic conditions
- Key watchpoints: Geopolitical developments, ETF flow sustainability
FAQ: Addressing Investor Queries
What's driving Bitcoin's current rally?
The combination of spot ETF inflows, institutional adoption, and positive market sentiment after Q2's 30% gain creates powerful momentum.
How likely is a new ATH this month?
With BTC just 3.5% below its record high and technicals confirming bullish trends, breakout potential appears strong if ETF inflows persist.
Where is the nearest support level?
The 50-day EMA at $104,126 forms critical support, followed by the psychological $100,000 level.
👉 Expert strategies for trading Bitcoin breakouts
Risk Considerations
While momentum appears strong, traders should monitor:
- ETF flow fluctuations
- Macroeconomic policy shifts
- Profit-taking near ATH levels
Note: CFD trading carries high risk of capital loss. Seek independent financial advice before investing.
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