Bitcoin is currently testing a critical resistance level near $118,000, a threshold that has proven challenging for bulls to breach. Despite this short-term barrier, market sentiment remains optimistic, driven largely by sustained institutional interest. On Monday, spot Bitcoin exchange-traded funds (ETFs) recorded $260 million in net inflows, marking the sixth consecutive day of positive momentum. This consistent accumulation highlights growing confidence among institutional investors and could provide the necessary catalyst for a significant price breakout. Analysts suggest that continued ETF inflows may alleviate selling pressure and contribute to a stronger bullish foundation. Should buying activity persist, Bitcoin may well surpass its current resistance, potentially entering uncharted price territory. Market observers are closely monitoring fund flow data and derivatives market indicators for signs of renewed upward momentum. The ongoing institutional adoption through regulated financial products continues to be a pivotal factor in Bitcoin’s medium to long-term valuation narrative.
