Fidelity Investments and Bitwise have collectively acquired $238.7 million worth of Bitcoin, as the cryptocurrency approaches the $120,000 mark. This significant purchase, made on October 2, 2025, underscores the growing institutional confidence in Bitcoin's potential as a long-term store of value. Currently trading near $119,000, Bitcoin faces a key resistance level at $120,000. Analysts indicate that surpassing this threshold could propel the price to between $122,000 and $124,000, while a decline below $116,000 might trigger a pullback to the $112,000–$114,000 range.