- Bitcoin trades near $114,970, down slightly today and over the past week, consolidating below its July peak.
- Michigan’s state pension fund tripled its ARKB ETF stake, showing increased institutional Bitcoin adoption for portfolios.
Bitcoin (BTC) trades around $114,970, down ~0.05% on the day and ~2.4% over the past week, consolidating after reaching its all-time high of $123,100 on July 14.
Institutional sentiment remains strong
The State of Michigan Retirement System has tripled its investment in the ARK 21Shares Bitcoin ETF, further increasing its exposure to BTC. This reflects the growing adoption of Bitcoin as part of pension and institutional portfolios.Â
Additionally, the market is watching for potential Federal Reserve interest rate cuts, which could boost risk asset demand—including BTC—given the DXY’s drop to 98.5 after a disappointing U.S. jobs report.
BTC is holding above the key support zone of $112,000–$113,000. Resistance lies at $120,000–$123,000, with a potential breakout path toward $125,000–$130,000 if macro sentiment improves.
Conversely, a break below $112K could trigger corrections toward $105K–$103K, with some analysts warning of possible deeper retracements in a more severe risk-off environment.
