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Bitcoin: The Frenzy of Organizations and Technical Drivers


$BTC increased by 0.63% in 24 hours as institutions accumulate, technical indicators turn bullish, and geopolitical instability drives demand.
Key Factors:
1. The company purchase - MicroStrategy has signaled to buy more BTC after purchasing 4,225 BTC in July, while 21 companies have added $810 million to reserves.
2. Technical strength - The price holding above key moving averages with a bullish MACD and RSI at 65 indicates growth potential.
3. ETF demand - $363 million has flowed into Bitcoin ETFs amid a search for safe-haven assets due to tensions between Israel and Iran.
Risks to Note:
- Miners sold 16,000 BTC on July 15th.
- He plans to sell 7 billion dollars of seized BTC, creating potential selling pressure.
The resistance level of $123,000 is an important breakout target, but the slowdown in ETF capital flows could cause a pullback. Altcoins are attracting attention as the Altcoin Season Index reaches 50.
Is this the time to buy in when the price breaks out or to wait for a potential dip? Please share your thoughts below.
BTC0.17%
LA3.36%
CHO5.24%
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