The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Last Friday, I noted that Bitcoin had touched the $115,000 level, and during today's Asian trading session, we already saw a test of the resistance near $119,800. This highlights a clear formation of support around $115,000, which will serve as a key reference point for many traders in the near term. The upper boundary of the channel is located near the $123,000 mark.
Fundamental factors also continue to influence Bitcoin's momentum. The strengthening of institutional interest, growing adoption by major corporations, and positive regulatory news are all boosting trust in digital assets. For example, Metaplanet has purchased an additional 780 BTC for approximately $92.5 million, showing continued optimism about Bitcoin's future. Metaplanet CEO Simon Gerovich stated that the company acquired all of its Bitcoin at an average price of $101,030 per BTC. According to Bitcointreasuries, Metaplanet now ranks as the seventh-largest corporate holder of Bitcoin globally, with total holdings of 17,132 BTC.
As for fund inflows, recent data shows that by the end of last week, US spot Bitcoin ETFs recorded a net inflow of $226.6 million, ending a three-day streak of outflows. On Thursday, the ETF with the highest inflow was Fidelity's FBTC, with $106.6 million, followed by VanEck's HODL with $46.4 million, according to SoSoValue. BlackRock's IBIT, the largest spot Bitcoin ETF by net assets, also attracted $32.5 million. Bitwise, Grayscale, and Franklin Templeton ETFs likewise reported inflows.
Spot Ethereum ETFs also recorded strong inflows, totaling $231.2 million and extending their streak to 15 consecutive days.
In the short term, traders should rely on technical indicators and key support/resistance levels. In the long term, Bitcoin's success will depend on its ability to maintain value and remain attractive as an alternative asset. Investors should always consider portfolio diversification and risk management when investing in cryptocurrencies.
Trading recommendations:
Buyers of BTC are now aiming to reclaim the $120,400 level, which opens the path to $122,000 with the $123,900 level within reach. The ultimate target is the $126,000 high, a breakout above which would signal a strengthening bull market. If Bitcoin falls, buyers are expected around the $118,800 level. A drop below this area could drag BTC toward $117,200, with the furthest target being $115,900.
What we see on the chart:
Crossing or testing moving averages often halts price action or sets a new market impulse.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
