ETF Flows Propel Bitcoin Past $122K Amid Low Retail Interest
Bitcoin price surged above $122,000 after breaking the seven-year resistance trendline. Institutional demand via spot Bitcoin ETFs logged over $1 billion in net inflows for two consecutive weeks and $28 billion year-to-date, led by BlackRock. Technical analysts mark targets between $132,000 and $138,000, with measured-move projections around $135,000. Google Trends data reveal global retail searches and crypto-app downloads remain below half their year-end levels. The post-halving issuance drop to 450 BTC per day and 75% of supply held by long-term holders have created a liquidity vacuum. Bitcoin’s market cap reached $2.4 trillion, surpassing Amazon’s $2.3 trillion. Analysts caution that 20%–30% pullbacks and key support at $112,000–$115,000 should be monitored. Traders must watch ETF inflows and technical levels to gauge whether bulls can sustain momentum.
Bullish
The news is bullish for Bitcoin. Strong spot ETF inflows and breakout past a seven-year resistance trendline signal robust institutional demand. Analysts’ targets of $132,000–$138,000 and a measured-move to $135,000 highlight positive technical momentum. The drop in issuance after halving and long-term holders reducing available supply further supports upward pressure. While retail sentiment remains muted and a 20%–30% pullback is possible, key support at $112,000–$115,000 provides a safety buffer. Traders should monitor ETF flows and technical levels to confirm the trend’s strength.