Key Notes

BTC is consolidating near $116K, with resistance at $116.2K and support at $108.5K.

Miner inflows to exchanges have hit a record $1.87 billion, raising supply-side risks.

BTC network hash rate and difficulty reached new all-time highs, showing resilience.

Bitcoin (BTC) trades in a narrowing range priced at $115,866, up nearly 5% in the past week. The asset is holding well above the 20-day and 50-day EMAs at $113,000 and $133,200, respectively.

Analysts at Bitcoin Vector note that the market is compressing, with support at $108,500 and resistance at $116,200. After reclaiming the $114,000 level, holding above it will determine BTC’s future trajectory .

http://twitter.com/bitcoinvector/status/1966541715982209318

A sustained breakout above $116,200 is required to confir

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