Bitcoin News Today: Bitcoin Hesitates at $114K as Institutional Buying Rises and Market Dominance Dips

Bitcoin is testing key resistance near $114,000 as institutional buyers continue to accumulate, while the asset’s market dominance slips, signaling a potential shift in capital toward altcoins. The cryptocurrency briefly dipped below $110,000 in recent days before bouncing back, but it has yet to break decisively above the $114,000–$119,000 range. Analysts are closely watching whether bulls can overcome this level to confirm a bullish continuation or if bears will force another pullback [1].

Japan-based firm Metaplanet has emerged as a significant institutional player, recently acquiring 463 BTC for $49.3 million, bringing its total holdings to 17,595 BTC. This purchase, made at an average price of $106,500 per coin, reflects a strategic accumulation strategy amid market volatility. Metaplanet’s stock has returned 163.55% year-to-date despite recent corrections, underscoring institutional confidence in Bitcoin as a long-term store of value [1].

Bitcoin’s dominance on the cryptocurrency market has fallen to 61.97%, down from the 63% threshold it failed to recapture. A bearish head and shoulders pattern is forming, suggesting further pressure on dominance could send it toward the 58% level. Analysts note that historically, a decline in BTC dominance often correlates with increased activity in altcoins, as capital reallocates across the broader crypto market [1].

Technical analysis from analyst CryptoMichNL highlights the critical role of the $116,800 resistance level. Failure to break above this threshold could see Bitcoin retesting the $110,000–$112,000 range. Conversely, a successful breakout may set the stage for another all-time high (ATH), particularly if momentum builds in September [1]. Kiyosaki, meanwhile, has expressed readiness to increase his Bitcoin holdings should prices dip below $90,000, framing the potential decline as a buying opportunity.

The growing institutional interest and technical resistance create a pivotal moment for Bitcoin. While accumulation by firms like Metaplanet signals long-term optimism, the current price stagnation and declining dominance hint at underlying market uncertainty. Traders are advised to remain cautious as the battle between bulls and bears intensifies in a key phase of the market cycle [1].

Source: [1] [Bitcoin Faces Key Resistance at $114K as Institutional Interest Grows and Dominance Declines](https://en.coinotag.com/bitcoin-faces-key-resistance-at-114k-as-institutional-interest-grows-and-dominance-declines/)