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🦐Tôm Ngốc Nghếch🦐
Bitcoin managed to edge higher in the past 24 hours, rising by 0.74% to reach $111,934. This move came in line with wider market growth of about 1.11%, but what stands out is that altcoins showed stronger momentum compared to bitcoin itself. From my perspective, it feels like bitcoin is slowly reclaiming its ground after recent volatility, though the market still seems undecided on how much weight to put behind this bounce.
One of the main drivers has been the strong resurgence of demand for spot bitcoin ETFs. On August 14, inflows into these products totaled $231 million, with BlackRock's IBIT leading the way by pulling in $524 million on its own. This brought total ETF inflows for 2025 above $54.9 billion, which is a reminder of just how much institutional interest has built up around bitcoin as an asset class. I see this as important because those inflows absorb a lot of the selling pressure that usually holds price down, and it also signals that big players still view bitcoin as a long-term store of value. That said, I am also aware that if inflows were to slow, it could expose the market to more profit-taking and short-term weakness.
Techniques have also begun leaning toward short-term strength. The MACD histogram has flipped positive, which indicates a bullish crossover, and bitcoin is holding above the $110,990 pivot. The RSI at 46 shows a neutral stance, meaning the asset is not yet stretched on either side. From my observation, this keeps room open for further upside, especially if price can push above $113,836 which sits as a Fibonacci level. The market seems to be watching for whether bitcoin can reclaim $116,000 because that would likely trigger a stronger wave of bullish sentiment. Personally, I see this as a make-or-break zone since rejection here could force a retest closer to $107,000.
On the whale side, signals are more mixed. Some large holders have been moving coins onto exchanges, with 12,000 BTC reported transferred last week. This echoes similar patterns seen in November 2024 when profit-taking slowed momentum. However, institutions such as Galaxy Digital have stepped in with new positions, adding $34.4 million in XRP and maintaining large BTC holdings worth about $1.8 billion. To me, this balance between selling pressure from short-term whales and steady accumulation from longer-term holders creates a tug of war that explains why price is climbing but not breaking out with the same force as altcoins.
In conclusion, bitcoin's modest rise reflects a combination of ETF-driven demand, technical stabilization, and a market that is still carefully weighing whale behavior. I personally think the key lies in whether bitcoin can consistently stay above the $113,800 to $116,000 range. If it does, momentum could carry it toward $120,000. But if not, we may see the market cool off and revisit levels closer to $105,000. For now, I take this climb as a sign of quiet strength, though not without caution, and I will keep watching how the bitcoin price behaves around these resistance and support levels in the days ahead.
One of the main drivers has been the strong resurgence of demand for spot bitcoin ETFs. On August 14, inflows into these products totaled $231 million, with BlackRock's IBIT leading the way by pulling in $524 million on its own. This brought total ETF inflows for 2025 above $54.9 billion, which is a reminder of just how much institutional interest has built up around bitcoin as an asset class. I see this as important because those inflows absorb a lot of the selling pressure that usually holds price down, and it also signals that big players still view bitcoin as a long-term store of value. That said, I am also aware that if inflows were to slow, it could expose the market to more profit-taking and short-term weakness.
Techniques have also begun leaning toward short-term strength. The MACD histogram has flipped positive, which indicates a bullish crossover, and bitcoin is holding above the $110,990 pivot. The RSI at 46 shows a neutral stance, meaning the asset is not yet stretched on either side. From my observation, this keeps room open for further upside, especially if price can push above $113,836 which sits as a Fibonacci level. The market seems to be watching for whether bitcoin can reclaim $116,000 because that would likely trigger a stronger wave of bullish sentiment. Personally, I see this as a make-or-break zone since rejection here could force a retest closer to $107,000.
On the whale side, signals are more mixed. Some large holders have been moving coins onto exchanges, with 12,000 BTC reported transferred last week. This echoes similar patterns seen in November 2024 when profit-taking slowed momentum. However, institutions such as Galaxy Digital have stepped in with new positions, adding $34.4 million in XRP and maintaining large BTC holdings worth about $1.8 billion. To me, this balance between selling pressure from short-term whales and steady accumulation from longer-term holders creates a tug of war that explains why price is climbing but not breaking out with the same force as altcoins.
In conclusion, bitcoin's modest rise reflects a combination of ETF-driven demand, technical stabilization, and a market that is still carefully weighing whale behavior. I personally think the key lies in whether bitcoin can consistently stay above the $113,800 to $116,000 range. If it does, momentum could carry it toward $120,000. But if not, we may see the market cool off and revisit levels closer to $105,000. For now, I take this climb as a sign of quiet strength, though not without caution, and I will keep watching how the bitcoin price behaves around these resistance and support levels in the days ahead.