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🚀Bitcoin Must Face Competitive Forces: Organizational Demand vs. Profit-Taking Risks
📈 Factors Driving Price Up:
- Corporations continue to buy (MicroStrategy has added 4,020 BTC in month 6)
- Foreign exchange reserves at the lowest level in 6 years
- Progress on ETF management and the CLARITY Act
📉 Price Drop Risk
- 90% of the BTC supply is currently profitable
- Technical indicators show weakness
- Macroeconomic instability from the Fed's decisions
💰Technical Level
- The resistance level at $115.194 (Fib 50%)
- Support at $110,677 (Fib 78.6%)
📊 Market Psychology
- Foreign exchange reserves have decreased to 15% of the supply.
- Whales are accumulating ETH ( recently totaling 2.85 billion dollars )
👉Can the demand from institutions surpass the selling pressure from retail?