Bitcoin Breaks $123,000 As Rising Open Interest Signals More Action Ahead

According to market reports, Bitcoin pushed up against a key ceiling this week as more money flowed into futures and spot ￰0￱ action has held above several support levels, and traders are watching $123,500 as the immediate test before a fresh run at ￰1￱ Reading: Bitcoin Rockets Past $119K, Analysts Now Eye $130K Target Bitcoin Price Tests Final Resistance Bitcoin’s trading channel has held firm for weeks, with a steady pattern of higher highs and higher ￰2￱ finding support near the channel low — a point that lined up with the market’s point of control — the rally reached the $123,825 high-timeframe resistance ￰3￱ on reports, that level is now the last major cap before prices move into untried ￰4￱ the barrier is taken cleanly, the next target inside the channel sits near $131,000.

Momentum is being backed by rising open ￰5￱ price climbed, the number of active positions has also grown, which traders read as a sign of broadening participation rather than a brief retail ￰6￱ have disclosed that Strategy’s Bitcoin holdings rose to $77.4 billion as BTC reclaimed the $120,000 mark, a move that market watchers say reflects stronger institutional interest.