The Bitcoin bull has been resting for a while,it may be ready to

The Bitcoin bull has been resting for a while, and it may be ready to run again soon.

Technical Analysis

1. Bitcoin consolidated within a narrowing range, shaping a potential Bullish Falling Wedge, a continuation pattern that typically precedes an upside breakout. Closing above 121,000 would confirm the bullish structure and signal trend continuation.
   
   
2. RSI below 70 suggest a potential of another leg up
   
   
3. If the upward breakout is confirmed, the next upside target is near 133,000, aligning with the 261.8% Fibonacci retracement level.
   
   
4. However, a close below 113,000 would invalidate this outlook and may need a reassessment.
   
   Fundamental Analysis
5. Bitcoin traded sideways-down ahead of the FOMC, then rebounded sharply as policy clarity eased uncertainty. Despite the Fed’s hawkish tone, renewed confidence drove flows back into Bitcoin.
   
   
6. ETF inflows continue to provide strong support. According to Farside.co.uk, Bitcoin ETFs have seen total inflows of $55 billion since their launch early last year, with $20 billion coming in just this year (through the end of July), showing no slowdown in momentum.
   
   
7. Treasury Reserve Corporate adoption continues, led by Strategy (formerly MicroStrategy), Metaplanet, and GameStop, with over 135–250 non-crypto firms adding Bitcoin as a reserve asset.
   
   
8. On the regulatory front, the GENIUS Act is seen as a significant positive development, offering much-needed clarity and enabling institutional investors and ETFs to gain crypto exposure with greater confidence—supporting Bitcoin indirectly.
   
   
9. Miners are hoarding BTC amid high prices, limiting supply and reinforcing upward pressure on the market.
   

Analysis by: Krisada Yoonaisil, Financial Markets Strategist at Exness