Bitcoin Regains Support, Eyes Breakout Above $116K Resistance
Bitcoin has reclaimed key support levels, signaling a potential end to its recent bear trend. The cryptocurrency now faces a critical resistance near $116,000. A decisive break above that barrier could open the door to new highs around $128,557—a gain of over 20% from current levels. ETF flows have turned positive following last week’s shakeout, offering further bullish momentum. Favorable technical indicators and sustained investor interest in crypto-based financial products support a constructive near-term outlook for Bitcoin. Traders will be watching closely to see if this renewed strength can spark a broader market rally.
Bullish
The recovery of Bitcoin’s key support and the shift of ETF flows back into positive territory suggest renewed buying pressure. Historically, ETF inflows have preceded significant rallies, and overcoming the $116K resistance could validate a trend reversal. In the short term, traders may capitalize on this momentum to push prices higher; long term, sustained institutional interest and favorable technical setups could support a broader bull cycle. Past breakouts following ETF inflows reinforce this bullish outlook.