Bitcoin Surges Above $116,000 Amid Institutional Demand, Trump Crypto Support

Key highlights:

*BTC surged to record highs, briefly breaching $116,000 before a modest pullback, as bullish momentum accelerates.

*Reports suggest Trump Media & Technology Group (TMTG) may launch a crypto-focused ETF, adding to positive sentiment.

*The Index has shifted into “Greed” territory, hinting at a potential continuation of the bullish trend.

Market summary:

Bitcoin (BTC) rallied sharply, breaching the $116,000 level for the first time before experiencing a slight retracement, as bullish momentum strengthened in the cryptocurrency market. The upward move was fueled by accelerating institutional demand and improving market sentiment, driven by the Trump administration’s crypto-friendly regulatory stance.

Since taking office, President Donald Trump has followed through on his pro-digital asset campaign promises, signing an executive order to establish a national strategic reserve for cryptocurrencies. Earlier this year, his administration also appointed crypto-supportive leadership at the Securities and Exchange Commission (SEC), further bolstering market confidence.

Market speculation intensified following reports that Trump Media & Technology Group (TMTG) may launch a cryptocurrency-focused exchange-traded fund (ETF), as indicated in a recent SEC filing. Meanwhile, Bitcoin ETFs have continued to see strong net inflows, highlighting sustained institutional interest and broader adoption.

The Crypto Fear & Greed Index has entered “Greed” territory after weeks of subdued activity, signaling a potential continuation of bullish momentum in the near term. Analysts suggest that regulatory clarity and increasing institutional participation could further support Bitcoin’s upward trajectory.

Technical Analysis 

BTC, H4

Bitcoin extended its sharp gains from the New York session into Friday’s Asian trading, reinforcing a bullish bias as the cryptocurrency surged to a fresh all-time high above the $116,000 mark. With no immediate signs of a pullback, the latest price action underscores solid upward momentum for BTC.

Technical indicators point to strengthening bullish sentiment. The Relative Strength Index (RSI) has entered overbought territory, while the MACD has rebounded sharply and continues to diverge above the zero line—both signaling that bullish momentum is accelerating. Should this trajectory hold, Bitcoin appears poised to test its next psychological milestone at the $120,000 level in the near term.

Resistance levels: 117,180.00, 122,350.00
Support levels: 111,745.00, 104,810.0