Bitcoin is trading near $122,200, and fresh on-chain data suggests US institutions are once again driving demand. According to CryptoQuant, the Coinbase Premium Gap — which tracks the price difference between Bitcoin on Coinbase and global exchanges, such as Binance — has surged to +86.4. A positive premium means Bitcoin is selling at a higher price on Coinbase, a platform that attracts institutional and regulated investors. This usually means stronger US demand as funds and asset managers step in to buy. In simpler terms, big buyers are willing to pay more to get in, indicating they are more confident in Bitcoin’s long-term. Bitcoin: Coinbase Premium Gap – Source: Cryptoquant Historically, these Coinbase Premium spikes have preceded big rallies. Institutional flows tend to dry up across exchanges, setting up price breaks. This time, the data aligns with Bitcoin consolidating above $120,000, indicating that institutional investors are entering the market early for potential new highs. The Coinbase Premium Gap is +86.4, indicating stronger US dollar buying. Bitcoin is trading above $ 120,000 after breaking a key resistance level. Institutional flows align with the “Uptober” momentum that historically accompanies 4th-quarter rallies. Bitcoin Price Prediction – Technical Outlook Technically, the Bitcoin price prediction remains in a strong uptrend. The asset recently broke above resistance at $119,500 and continues to hold well above both its 50-period and 100-period simple moving averages (SMAs) at $115,013 and $114,523, respectively. These crossovers signal a continuation of bullish momentum. Bitcoin Price Chart – Source: Tradingview However, the chart also reveals the formation of a Bearish Butterfly harmonic pattern, a setup that often signals exhaustion near the top of a rally. If Bitcoin continues upward, the following resistance levels stand at $124,600 and the Potential Reversal Zone (PRZ) between $128,000 and $130,000. As price approaches this region, overbought conditions, reflected by the Relative Strength Index (RSI) above 73, could trigger short-term profit-taking. Candle action is cautious with smaller candles and long upper wicks showing hesitation at higher levels. A dip below $121,140 could retest $118,500, and stronger selling could take us down to $115,000. Market Outlook: Institutional Flows Drive Confidence Despite potential short-term corrections, the broader sentiment remains positive. Institutional buying, rising ETF volumes, and improving macro liquidity continue to support Bitcoin’s long-term case. The premium on Coinbase — often viewed as a leading indicator — reinforces the idea that professional investors are quietly accumulating ahead of the next major leg higher. If Bitcoin holds above $120,000 and institutional demand persists, we could be setting up for a test of the $128,000-$130,000 zone by year-end. A break above that would open the door to a new all-time high (ATH) and potentially another institutional milestone. Presale Maxi Doge ($MAXI) Blends Meme Power With Gym-Bro Energy Maxi Doge ($MAXI) is a meme-fueled token designed for degens who thrive on 1000x leverage and relentless hustle. More than just a meme coin, $MAXI represents a community-driven culture that fuses trading intensity with gym-bro energy, caffeine, and competitive camaraderie. By holding $MAXI, investors unlock staking rewards, trading contests, and access to gamified partner events. The smart contract has been audited by SolidProof and Coinsult, giving added confidence in the project’s foundations. Momentum is strong. The presale has already raised over $2.7 million, with tokens priced at just $0.0002605. This figure will rise as the presale progresses, making early entry more attractive. $MAXI holders gain access to: Staking rewards with dynamic APYs Trading contests with leaderboard prizes Community-driven partner events and future integrations You can buy $MAXI on the official Maxi Doge website using ETH, BNB, USDT, USDC, or a bank card. Visit the Official Maxi Doge Website Here The post Bitcoin Price Prediction: Coinbase $113 Premium Hints at Institutional Accumulation for ATH Breakout appeared first on Cryptonews .
