@matthewcopperfie
Bitcoin’s surge past $124,000 can be attributed to a combination of strong macroeconomic and technical drivers. On the macro side, declining U.S. Treasury yields and expectations of further rate cuts have increased risk appetite, while geopolitical uncertainty has driven investors toward decentralized assets. Technically, Bitcoin recently broke above a major resistance zone near $118,000, triggering algorithmic buy orders and short squeezes. On-chain data shows decreasing exchange reserves, indicating strong accumulation by whales and long-term holders. Additionally, ETF inflows have hit multi-week highs, reflecting sustained institutional demand. The halving earlier this year tightened supply, amplifying the price response. Combined, these elements created an environment where upward momentum fed on itself, pushing Bitcoin to breach the $124,000 level in decisive fashion.
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