Bitcoin Holds Above $122K as ETF Demand Tightens Supply || Daily News
Weekend strength keeps BTC poised for its first-ever weekly close above $120K while traders eye a potential supply crunch
🪙 Crypto Market Overview
Bitcoin has been holding the 122,000 USD level with remarkable resilience over the weekend. As things stand, the market is on track for the first-ever weekly close above 120,000 USD, a milestone that would reinforce the strength of this cycle’s breakout.
Rumors are swirling that OTC desks are running short on available BTC, with some claiming inventories could be depleted by Monday. Whether exaggerated or not, such stories highlight a growing spot demand imbalance — especially with ETF inflows absorbing supply faster than new issuance.
Should that dynamic persist, a new all-time high could be imminent. If Bitcoin extends higher, capital is likely to rotate into Ethereum (ETH), Solana (SOL), and other large-cap altcoins as traders chase lagging plays.
📊 Technical Picture
BTC continues to consolidate above key support near 122,000 USD, forming a potential launch base. A decisive break above 128,000 USD would confirm renewed momentum and open the path toward 132,000–140,000 USD — levels that represent the next significant resistance cluster.
Short-term sell signals across some momentum models suggest possible brief pullbacks early next week, but these have so far been met with quick rebounds rather than sustained downside. Market sentiment remains skewed toward buying dips rather than selling strength.
🔀 Two Possible Paths
Correction Scenario:
Some large traders anticipate a pullback toward 118,000 USD, citing stretched conditions. While a short-term correction is possible, the lack of strong follow-through on prior sell setups suggests this could again prove shallow.Breakout Scenario:
A clean move through 128,000 USD could ignite a sharp upside continuation. Above 132,300 USD, technical resistance thins out quickly, leaving room for a rally toward 138,000–140,000 USD in the short term.
🌐 Broader Market Context
ETF inflows remain a dominant driver of market structure. Recent data show accelerating absorption rates, with some analysts estimating that Q4 flows could retire over 100,000 BTC from circulation, surpassing new supply from mining.
If this pace continues, the available float will tighten dramatically — a setup that has historically preceded strong directional moves in prior bull cycles.
Meanwhile, Ethereum and Solana are approaching major technical milestones.
ETH eyes a retest of 5,500 USD
SOL targets 270 USD
XRP may rebound toward 3.60 USD if BTC extends its breakout
🎯 Strategy Outlook
Short-Term (Days): Long bias. A breakout above 125,300–128,000 USD opens the door to new highs.
Medium-Term (Weeks): Trend remains bullish post-121K breakout; potential to take partial profits around 140K–160K.
Long-Term (Months): Cycle projection toward 230K remains valid unless 72K fails.
🧭 Strategy Notes
BTC remains firm above key levels despite mild weekend volumes.
Traders should monitor ETF flow data and liquidity metrics closely.
A confirmed break of 128K could trigger accelerated upside.
Temporary dips remain potential accumulation zones.
🔑 Key Takeaways
BTC poised for first weekly close above 120K
ETF inflows tightening supply, potential catalyst for new highs
128K breakout zone remains key short-term trigger
Altcoins (ETH, SOL, XRP) positioned to follow BTC’s next move
Short-term caution, long-term trend still bullish
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