Bitcoin trades above $111K with no visible resistance, signaling potential for a new bull market.
Trading volume jumps 35.51% as BTC price holds steady above key moving averages and support levels.
100% of holders are in profit; open interest and options volume rise, supporting strong bullish momentum.
Bitcoin is trading steadily above $111,000 after touching $112,000 earlier in the session. Analysts note that the cryptocurrency currently shows no visible resistance on the chart. With strong market momentum and rising investor participation, a move beyond the next price level this week could confirm the start of a sustained bull market.
Price Action and Technical Momentum Remain Strong
At the time of writing, Bitcoin is priced at $111,058.56, marking a 0.77% increase over the past 24 hours. The asset remained above $110,000 for most of the trading session, with the 24-hour range stretching from $109,430 to $112,000. This steady movement reflects strong support from market participants.
Data from CoinMarketCap shows Bitcoin’s market capitalization at $2.19 trillion, while the fully diluted valuation is $2.33 trillion. Trading volume surged 35.51% to reach $59.57 billion, showing increased interest and activity across the market. The volume-to-market cap ratio of 2.7% also signals active trading conditions.
https://twitter.com/CW8900/status/1943185131440869473
According to an analysis prepared by CW8900, BTC has no resistance and stands in a strong position to begin a bull market. He added that this week holds importance for Bitcoin’s trajectory. The price holds above key moving averages, and continued upward movement may confirm a broader bullish cycle forming.
On-Chain Metrics and Derivatives Support Bullish Structure
IntoTheBlock data indicates that 100% of Bitcoin holders are in profit, and 76% of addresses have held BTC for over one year. The supply in circulation stands at 19.89 million, nearing the 21 million maximum, with all mined coins actively circulating.
Coinglass reported $211.46 million in short liquidations over 24 hours, while open interest climbed to $78.75 billion. Options trading volume increased 69.50% to $5.06 billion, and long positions slightly outnumber shorts. Market data continues to support the idea that Bitcoin is in a strong position to enter a new bullish phase if momentum persists.
The post Bitcoin Holds Above $111K as Analysts Say “No Resistance” Stands in the Way of a New Bull Market appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
