Bitcoin, 120,000 Dollar Rally Imminent? Excitement Over BlackRock Staking ETF Discussions↑

Bitcoin (BTC) is continuing its stable upward trend above $103,000, with growing market expectations. According to cryptocurrency specialist media CoinGape, discussions on the integration of staking and options trading between BlackRock and the U.S. Securities and Exchange Commission (SEC) are underway, which further solidifies the long-term upward outlook for Bitcoin.

Bitcoin recorded a 120-day high of $103,890 last Friday and is stably maintaining a strong support line above $102,500. With a recent increase in trading volume and reduced price volatility compared to the past, technical analysis suggests a high possibility of rising to the $112,000~$120,000 range if the short-term resistance of $105,000 is breached.

BlackRock is reported to be discussing integrating staking profits and options trading functions into cryptocurrency ETF with SEC. If this strategy is approved, institutional investors will secure higher revenue generation and risk hedging means. Consequently, a massive influx of funds is expected, and there are growing expectations that Bitcoin's price may jump to a record high above $107,000.

Technical analysis also clearly shows a bull market. Bitcoin is currently trading stably above the **Bollinger Band midline ($103,109)** and the lower support line ($95,833). In addition, the RSI (Relative Strength Index) remains in the overbought zone at 75.07, maintaining above 70 for three consecutive trading days. This is interpreted as a signal of solid buying strength.

However, if the $102,000 support line collapses, the short-term upward structure may be invalidated, with a possibility of adjustment down to $95,000. Nevertheless, as long as BlackRock's ETF strategy changes and institutional demand increases, the current upward trend is likely to continue.

Market experts advise that whether the $105,000 mark is breached will act as a trigger for a mid-term rally, urging careful observation by investors.