Bitcoin is approaching a pivotal technical barrier at $118,000, a level that has proven historically challenging for the cryptocurrency. Despite recent bullish momentum, this resistance continues to test market optimism. Supporting the upward trajectory, U.S. spot Bitcoin exchange-traded funds recorded substantial inflows totaling $260 million on Monday. This marks the sixth consecutive day of positive fund movements, indicating sustained institutional interest and growing confidence among traditional investors. Market analysts suggest that continued ETF demand could provide the necessary momentum for Bitcoin to breach this significant price ceiling. The consistent inflow pattern reflects broader market sentiment shifting toward digital assets as viable investment vehicles. Should this trend persist, it may catalyze a decisive breakout, potentially establishing new support levels and paving the way for further gains. Traders and investors are closely monitoring these developments, recognizing that ETF performance remains a critical factor in Bitcoin’s short-to-medium term price action.
