Bitcoin surged above the $120,000 mark this week, hitting highs near $120,800 and sparking renewed calls for a fresh bull run.
The move comes amid strong demand from spot Bitcoin ETFs, with analysts pointing to continued institutional inflows as a key driver. Macro tailwinds, including expectations of U.S. rate cuts and political uncertainty, are also fueling risk appetite.
Data from derivatives markets shows some caution, with options “max pain” levels clustering around $108K. Still, technical analysts argue that breaking the $120K resistance could open the door for targets as high as $140K–$150K in the coming months.
On-chain flows remain bullish, with exchange balances trending lower as whales and institutions move BTC into custody. According to Cointelegraph and Reuters, momentum resembles past mid-cycle rallies that doubled within months.
For Web3 and crypto gambling platforms, the breakout is more than symbolic. Rising BTC prices typically boost deposits, wagering volumes, and token demand across hybrid casinos and degen dApps — giving the entire sector fresh liquidity.
