Bitcoin Shows Signs of Another Big Move
Bitcoin’s price action is looking interesting again—maybe even promising. After hovering around the $107,000 mark for days, it’s up about 10% from this week’s lows. That’s not nothing, especially when you consider the broader context.
There’s a mix of technical patterns forming—some traders are pointing to a cup-and-handle setup, others a bullish flag. Neither guarantees anything, of course, but together they’re fueling speculation that BTC could test its all-time high near $111,900 soon. Or not. Markets have a way of humbling even the most confident predictions.
ETFs Keep Pulling in Money
A big part of the recent momentum seems tied to U.S. spot Bitcoin ETFs. This week alone, they saw $2.2 billion in inflows—way up from last week’s $1.02 billion. Over the past month, the total sits at $4.5 billion, slightly below May’s $5.2 billion but still strong.
BlackRock’s IBIT is leading the pack with over $52 billion in inflows since launch, now holding $74.5 billion in assets. Fidelity’s FBTC isn’t far behind, with $12 billion added and $21.5 billion under management. That kind of institutional interest isn’t just noise—it’s shaping the market.
Supply Keeps Shrinking
Here’s another piece of the puzzle: Bitcoin available on exchanges is at its lowest since 2017. Santiment reports just 1.21 million coins sitting in exchange wallets. When supply tightens and demand holds steady (or grows), prices tend to react.
That doesn’t mean a surge is inevitable—macro factors, regulatory news, or even whale movements could shift things overnight. But for now, the setup looks… well, let’s say cautiously optimistic.
What the Charts Suggest
Bitcoin’s daily chart shows a bounce from $98,253 to $107,400, staying comfortably above the 50-day and 100-day moving averages. That’s usually a good sign for bulls. The bullish flag pattern—a steep rise followed by a slight pullback—often precedes another leg up.
Then there’s the cup-and-handle, another classic (if slightly overhyped) indicator. If history repeats—big *if*—BTC could retest $111,900. Break past that, and $115,000 might come into play.
But charts are just one piece of the story. ETFs, supply shocks, and plain old market sentiment all matter. Right now, they’re leaning bullish. Tomorrow? Who knows.
