Bitcoin (BTC) rose 0.60% to $109,055 over the past 24 hours, outpacing the broader crypto market, which slipped 0.01%. The move higher reflects a confluence of bullish ETF inflows and whale accumulation, which together are offsetting persistent macro headwinds. Having defended the $100K psychological support level, Bitcoin now eyes higher ground, with technical indicators hinting at potential continuation toward the $120K–$136K zone.
Institutional ETF Inflows (Bullish Impact)
U.S. spot Bitcoin ETFs continue to attract substantial demand, underlining strong institutional conviction even as traditional markets contend with macro uncertainty. In mid-August, spot ETFs saw $231 million in net inflows, with BlackRock’s IBIT ETF accounting for $524 million alone, according to BlockBeats.
Sustained ETF inflows not only absorb selling pressure from short-term traders but also reinforce Bitcoin’s emerging role as a mainstream macro asset. The data reflects growing adoption among asset managers who view BTC as a portfolio hedge and a growth driver.
The ETF flow data will serve as a barometer of whether this trend remains intact, especially with looming political risks. Proposed tariffs under Trump’s policy platform and Federal Reserve rate path uncertainty could slow institutional risk appetite if markets turn more defensive.
Technical Support Hold (Mixed Impact)
From a technical perspective, Bitcoin’s bounce from the $100K psychological level was significant. The Optimized Trend Tracker (OTT) indicator flashed its first bullish signal since mid-2024, a pattern that has historically preceded rallies of 80% or more.
However, near-term caution is warranted. While the OTT suggests upside potential toward $136K, Bitcoin faces stiff resistance at $113K, which must be cleared to confirm the breakout. The RSI (37.82) remains neutral, implying that momentum is not overheated, but also not yet in strongly bullish territory.
$120K in Sight, but Macro Risks Remain
Bitcoin’s recent gains reflect a tug-of-war between bullish structural flows and bearish macro overhangs. On one side, ETF demand and whale accumulation are soaking up supply and signaling long-term confidence. On the other, tariff uncertainty and Federal Reserve policy shifts pose risks that could test risk ap
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Author: Crypto Daily
