Bitcoin near $119K because of ETF inflows & accumulation
Bitcoin price rise 0.77% near $119,000, as record US spot Bitcoin ETF inflows hit $2.7 billion inside five days plus big gathering inside retail wallets. Exchange balances don drop reach lowest for 10 years as small investors dey collect about 19,000 BTC every month. Technical signs like 50-day moving average plus RSI dey show strong bullish movement. Immediate resistance dey for $120,000 with support between $114,000 and $116,000. Analysts dey warn say short-term pullback fit happen cos of high RSI or divergence but dem dey expect say uptrend go continue if ETF inflows still dey amid weak dollar and tariff wahala.
Bullish
Dis news good for Bitcoin. Di record spot ETF money wey dey come in and di way retail wallets dey gather up dey reduce selling pressure and dey support higher prices. Technical indicators like 50-day moving average and RSI momentum dey show say di upward trend fit continue, as exchange balances dey drop mean say supply dey reduce. Even though analysts dey warn say short-term corrections fit happen because of high RSI levels or possible divergence, di overall macro situation with weak dollar and tariff wahala dey give extra support. So, more ETF money and retail wallets gathering go likely push Bitcoin price higher for short and long term.