1. No Major Institutional Buy-ins: Unlike earlier this month when MicroStrategy and Tesla made massive BTC purchases, the past few days have seen no large corporate acquisitions, keeping the market from surging.
2. Global Market Sentiment: Investors are reacting cautiously to U.S. inflation reports and the Federal Reserve’s next interest rate decision, both of which can impact crypto markets.
3. ETF News Pause: The buzz around Bitcoin ETF approvals has calmed down temporarily, causing less volatility in the market.
4. Altcoin Rotation: Some traders are currently rotating capital into Ethereum (ETH) and AI-based altcoins, slightly affecting Bitcoin’s dominance.
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Current Price: ~$119,000
24-Hour Change: -0.5%
7-Day Movement: Slight decline (~1.2%)
Market Cap: $2.35 Trillion
24-Hour Volume: $34 Billion
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🏦 Why the Price Is Stable Today?
1. No Major Institutional Buy-ins:
Unlike earlier this month when MicroStrategy and Tesla made massive BTC purchases, the past few days have seen no large corporate acquisitions, keeping the market from surging.
2. Global Market Sentiment:
Investors are reacting cautiously to U.S. inflation reports and the Federal Reserve’s next interest rate decision, both of which can impact crypto markets.
3. ETF News Pause:
The buzz around Bitcoin ETF approvals has calmed down temporarily, causing less volatility in the market.
4. Altcoin Rotation:
Some traders are currently rotating capital into Ethereum (ETH) and AI-based altcoins, slightly affecting Bitcoin’s dominance.
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📊 BTC Technical Outlook
Resistance Level: $122,000
Support Zone: $116,500
RSI: 52 (Neutral Zone)
Trend: Consolidation Phase