The cryptocurrency market, particularly Bitcoin, has become interesting again due to several key factors shaping the overall picture.
Corporate Bitcoin Holdings
Major corporate treasuries continue to increase their Bitcoin reserves. For instance, the French company Capital B added 126 BTC, raising its total holdings to over 2,200 BTC. MicroStrategy also reported the purchase of 155 BTC. The total held by public companies now exceeds 3.64 million BTC, which reduces liquidity on exchanges.
Launch of Trump Media ETF
Trump Media is moving forward with launching its Bitcoin ETF for the Truth Social platform by filing an amended S-1 with the SEC. Crypto.com will act as the custodian. The ETF’s structure implies that each share will be backed by physical Bitcoin. Historically, ETF approvals have acted as catalysts for fresh institutional inflows and price growth.
Technical Indicators and Market Forecasts
From a technical perspective, Bitcoin is holding firm above the $120,000 mark, trading above its 7-day simple moving average and key Fibonacci retracement levels. Indicators such as MACD and RSI remain supportive of the bullish trend. Traders are watching for resistance near $123,000—a breakout could open the path toward $126,000, while a decline below $116,000 might increase the risk of a short-term correction.
Considering the overall demand for Bitcoin and upcoming news such as the U.S. CPI report, the next few days will be critical for market movement. Given current trends, Bitcoin may continue its upward trajectory.
