Can Bitcoin successfully break through $100,000?

[BTC] Recent momentum has been accompanied by a significant [surge], with open interest continuously rising, reflecting new market participation.

This increase reflects a historically bullish setup, with rising open interest preceding strong price action.

Importantly, the funding rate remains balanced, while secondary data shows shorts under control, indicating health.

Does the supply side between exchanges alleviate pressure on the supply side?

Bitcoin exchange reserves have decreased to $238.31 billion, reflecting a 0.67% decline. This reduction indicates that investors are increasingly removing BTC from exchanges, which is generally a bullish signal associated with reduced selling pressure.

Moreover, NetFlow stands at -4.33k BTC, reflecting a +2.45% transfer towards outflows. Therefore, this shift in reserves and net flow structure highlights growing accumulation behavior.

Current supply dynamics signal that fewer coins are available for immediate sale, providing a favorable backdrop for price stability and potential upside.

Are Bitcoin users significantly returning to the network?

Network participation is rising, and historically, a higher count of active addresses has accompanied sustained bullish phases, further supporting the current recovery narrative.

If this trend continues, it could enhance BTC momentum and validate the chain strength behind the rebound.

Is profitability returning without signals of overvaluation?

Profitability has returned, but not at concerning levels.

The MVRV Z-score has climbed to 2.42, marking a significant recovery from its low in April.

Although this level indicates that holders are becoming increasingly profitable, it still remains below the danger zone associated with major tops.

Thus, Bitcoin appears to be in a phase of minimal profit pressure, but bullish sentiment is building.

This metric indicates a balanced market state, where prices can rise without triggering aggressive selling from overextended holders.

Will Bitcoin break through the $100,000 barrier?

BTC is currently testing resistance at 6,794,013,029,898,000.

Given the open interest, alleviation of exchange reserves, and the healthy growth of increasing network activity, Bitcoin's current rally seems fundamentally supported.

The MVRV ratio confirms that the market is not yet overvalued, while technical indicators point towards a potential breakthrough.

Thus, if Bitcoin successfully tests the resistance area of $98,000 in the coming days, it could maintain its momentum.