Bitcoin (BTC) has reclaimed the $115,000 level, driven by a powerful mix of macroeconomic shifts, institutional demand, and easing supply pressure from miners. The cryptocurrency is currently trading near $114,262, consolidating after a local low of $107,200 earlier this month.
The move comes as investors increasingly bet on a Federal Reserve interest rate cut, fueling a “risk-on” appetite across financial markets. Lower rates are historically supportive of speculative assets, and Bitcoin is positioning itself as a key beneficiary.
At the same time, U.S. spot Bitcoin ETFs recorded $1.7 billion in net inflows this week, marking their strongest performance since July. BlackRock’s IBIT and Fidelity’s FBTC led the surge, while MicroStrategy expanded its holdings by an additional 1,955 BTC, underscoring institutional confidence.
On the supply side, Bitcoin miners are reducing transfers to exchanges, a sign they are holding rather than selling. Analysts view this as a bullish signal that removes immediate selling pressure from the market.
Technically, Bitcoin faces major resistance between $116,000 and $121,000, with liquidation clusters suggesting that a break above $117,000 could trigger a short squeeze toward $120,000. Support levels are seen at $115,000, $114,000 (the realized price of mid-term holders), and $110,000.
Despite the bullish tone, caution lingers. The CryptoQuant Bull Score Index has turned bearish, with eight out of ten indicators flashing red, hinting at speculative excess. This divergence between on-chain fundamentals and price momentum could leave Bitcoin vulnerable to a sharp correction.
Beyond the short-term moves, Bitcoin’s long-term outlook is being reshaped by geopolitics. Kyrgyzstan is preparing to establish a national Bitcoin reserve, while U.S. lawmakers have reintroduced the “BITCOIN Act”, proposing a one million BTC reserve to strengthen financial security.
With Bitcoin consolidating near $115K, the market is watching whether institutional inflows and policy shifts can propel the cryptocurrency toward its all-time high of $124,457, or if bearish on-chain signals will trigger another reversal.
