Rachael Lucas

“Bitcoin breaching US$120,000 is more than a milestone, it is a marker of how deeply embedded digital assets have become in institutional portfolios,” says Rachael Lucas, BTC Markets Crypto Analyst.

“Daily inflows into spot Bitcoin ETFs topped US$1 billion, and total ETF-managed Bitcoin now represents over 6% of the entire market cap. That’s not speculative froth, it’s structural demand.”

Ms Lucas adds, “We could see short-term profit-taking at this level, which is natural after such a strong move. The key levels to watch are resistance around US$125,000 to US$128,000 and support near US$112,000.

“But the bigger picture remains unchanged, with ETF inflows, corporate adoption, and a weakening macro backdrop. This cycle still has legs,” she says.

“Locally, BTC/AUD is trading near A$179,000 on BTC Markets with strong volume, reflecting sustained interest from Australian investors.

“While institutional capital is leading globally, domestic activity shows retail investors are still engaged and watching for the next breakout.”

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