Bitcoin Yearn Breakout from $115K-$121K Range Amid Liquidity Hunt
Bitcoin don dey trade between $115,000 and $121,000 for more than two weeks, e don form tight trading range before one possible breakout. Small dip waka below $116,000 after Fed FOMC minutes and Chair Powell press conference, but price quick recover as traders focus again on fundamentals. Order book data show big sell walls for $121,100 and strong bids at $111,000, while liquidation heatmaps dey show long liquidations below $115,000 and possible short squeezes above $120,000.
Institutional signals dey support bullish outlook. Spot Bitcoin ETFs don get net inflows of $641.3 million since July 23, and corporate treasury purchase don jump, buyers dey outnumber sellers 100:1. Technical indicators like narrowing Bollinger Bands and low leverage for futures markets indicate say volatility go soon expand.
For short term, Bitcoin fit try test $111,000â$115,000 level again to absorb liquidity. Strong close pass $120,000 for both spot and perpetual futures go confirm bullish breakout. Upcoming US policy reports and SEC speeches fit make institutional adoption increase more.
Bullish
Di strong ETF money wey dey enter, corporate treasury buying plus technical signals show say bullish momentum dey. Spot Bitcoin ETFs don start get big net inflows again and enterprise buyers dey maintain 100:1 ratio, wey underline strong demand. Narrow Bollinger Bands plus low leverage for futures markets mean say market volatility go low before e go expand. Even though short term fit dip go $111Kâ$115K to absorb liquidity, if e break and close pass $120K for both spot and perpetual futures, e likely go start long rally. Overall, institutional and on-chain signs dey support bullish breakout for Bitcoin both short and long term.