Bitcoin Market Trends: $112K/$120K, Macro & Whale Moves
Dis week, di Bitcoin market trend dey focus on four tins: price levels, macro signals, whale activity, and US demand. First, Bitcoin (BTC) get strong support at $112,000 and resistance at $120,000; if e fall below $112K, e fit cause more corrections, but if e pass $120K, e fit start fresh rally. Second, di Jackson Hole Symposium plus Fed Chair Jerome Powell talk on interest rates go shape di macro outlook: if dem talk hawkish, e fit reduce how much risk people go take, but if dem talk dovish, e fit make market gain. Third, whale activity, wey we see through $1 billion liquidation plus people buying when price dip, show say big players dey collect BTC for lower price. Fourth, di continuous positive Coinbase premium show say demand for US spot strong, e dey make market stable. Together, all dis things dey set di current Bitcoin market trend and help traders manage market ups and downs and find chance.
Bullish
Plenty supportive indicators dey back di bullish outlook. Traditionally, Bitcoin trading pass key support levels (previously around $30K for 2020 and $50K in 2021) while di whales dey gather plenty coins don lead to plenty sustained uptrends. Di current $112K floor resemble those bases, providing strong safety net. At di same time, steady spot demand from US, wey dey show for di Coinbase premium, dey boost liquidity and buyer confidence. Even though makro risks from Jackson Hole Symposium still dey, dovish surprises before (like for March 2021) don spark rallies. When you add strategic whale dip-buying together with dis, e mean di elements support upward momentum both short-term — where resistance tests fit succeed — and long-term, as accumulation show say bullish position go last long.