According to analyst Ali Charts (@alicharts), Bitcoin has surged over 50% since hitting a low of $57,749 on July 1, and is currently trading above the strong support level at $84,569. On-chain data shows that yesterday, there were 2,722 individual transactions on the BTC network exceeding $1 million, indicating continued institutional inflows rather than profit-taking. On the ETF front, U.S. spot Bitcoin ETFs recorded net inflows of over $1.6 billion in the past 72 hours, signaling significant buying pressure. Technically, the second support level lies around $77,000, while the primary resistance is near $104,765; the MVRV pricing band suggests an average resistance level of approximately $100,670. Amid sustained strong demand, the $100,000 target remains a key market focus.
BTC rises over 50% since early July, targeting $100,000
TechFlowShare
Summary
BTC price rose over 50% since reaching $57,749 on July 1 and is now above the key support level at $84,569. On-chain data reveals 2,722 large BTC transactions exceeding $1 million within 24 hours, indicating institutional buying activity. The U.S. spot Bitcoin ETF recorded a net inflow of $1.6 billion over 72 hours. BTC dominance remains stable amid strong demand. The next support level is at $77,000, with resistance near $104,765. The MVRV pricing band suggests $100,670 as the average resistance level, keeping the $100,000 target in focus.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.