Bitcoin reaches $ 119,000 milestone because the demand for companies and ETF inflows increases
On July 13, Bitcoin rose to a new all -time high of over $ 119,000 and expanded its upward dynamics due to institutional accumulation, shrinking foreign exchange reserves and technical outbreak patterns.
The latest rally was accelerated by speculation about large BTC purchases of companies. According to CoinmarketCap, financial institutions have acquired Bitcoin worth over $ 554 million this week, with the exact sources remaining unconfirmed. These signals reflect past accumulation cycles – like that of Microstrategy – in which speculative purchases of institutions were preceded by parabolic price movements.
At the same time, Bitcoin ETFs recorded weekly tributaries of $ 1.18 billion, which indicates a persistent interest in the traditional financial world. Despite the general caution, this demand comes on the market, since many BTC regarding macroeconomic uncertainties and as a high -rise value preservation means in a changing global economy.
Stock reserves fall down because the offer is scarce
On-chain data show that the Bitcoin reserves on exchanges have fallen to a 10-year low and only make up 1.25% of the total offer. This severe decline in the BTC kept on stock exchanges reduces direct sales pressure and increases the narrative of the scarcity of the assets. The circulating offer is 19.89 million BTC, whereby only 1.11 million BTC can be dismantled as part of the specified upper limit of 21 million BTC.
Meanwhile, the 24-hour trade volume fell to $ 43.56 billion-a minus of 22.4%-which indicates that the latest movement was more powered by spot buyers and long-term owners than by speculative dealers.
Outlook: Momentum intact, but pay attention to important support
The Bitcoin course seems to be structurally healthier than earlier cycle highest stands. The leverage is still relatively low, and retail mania has not yet fully returned. The most important support to consider is the $ 114,000 mark, which matches technical fibonacci zones and short-term moving average.
In order for the rally to last, the market may need a new catalyst beyond ETF inflows-possibly a confirmed return to Bitcoin accumulation by large companies or other regulatory clarity in the United States.
