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Why Bitcoin Price Is Surging Today?
The current Bitcoin price rally is driven by several converging factors that have created an exceptionally bullish environment:
Institutional Treasury Rebalancing: Major corporations are rapidly expanding Bitcoin allocations following regulatory clarity
Federal Reserve Policy Expectations: Anticipated September rate cuts support risk-on asset performance
Fibonacci Technical Breakout: Bulls challenging the critical 1.618% golden ratio resistance level
Derivatives Market Positioning: Over $3 billion in open interest targeting $140,000 strike prices
Reduced Exchange Reserves: On-chain data shows long-term holders accumulating rather than distributing#BTC Back To $120k #Predict BTC's Bull or Bear Trend #Stablecoin Supply Tops $270B #Content Mining & Earn Rich Commission #Fed Officials Signal Rate Cut