Overview

• Last week’s weekly candle closed above the $119,200 bull flag top and Bitcoin is now retesting that level near $118,000 to confirm support.
• Bitcoin remains range-bound between about $117,000 and $120,000, forming pennant and symmetrical triangle patterns that traders view as setup for a decisive move.
• CryptoQuant’s Heat Macro Phase sits at 44% and Glassnode’s STH cost basis bands indicate neutral macro conditions without clear bullish or bearish dominance.
• U.S. spot Bitcoin ETFs have accumulated over $80 billion in assets under management, underscoring growing institutional demand and inflow.
• Market participants are watching this week’s Federal Reserve decision and the closing of CME weekly options for potential catalysts to break the consolidation.