**Bitcoin Bulls Eye Key Breakout Amid Seven-Month Downtrend**

Bitcoin (BTC) is on the verge of a significant breakout after spending over half a year in a downward-sloping channel. Data from Cointelegraph Markets Pro and TradingView shows BTC attempting to break resistance levels set since March’s all-time high of $73,800.

Popular trader Rekt Capital noted that BTC has repeatedly tested the channel's upper edge, with the latest attempt this week. A weekly close above $68,000 could signal a shift, giving bulls the upper hand.

On lower timeframes, daily closes outside the channel and clearing the 200-day SMA and EMA cloud offer more optimism. Analyst Daan Crypto Trades highlighted the short-to-mid-term trend as positive.

Institutional demand for Bitcoin is also surging. Net yearly inflows have reached 360,000 BTC, nearing the 2020 record of 373,000 BTC. U.S. spot Bitcoin ETFs have seen inflows topping $20 billion, with total assets hitting a new high of $65 billion.

Stay tuned as Bitcoin's next move could be pivotal!