Bitcoin BTC $109 944 24h volatility: 1.8% Market cap: $2.19 T Vol. 24h: $41.31 B has rebounded sharply after testing support near $105,000 earlier this week, trading around $109,700 at the time of writing.
On-chain data shows that investors are displaying strong holding behavior instead of rushing to take profits, a shift from previous cycles.
Glassnode data reveals that Bitcoin’s Liveliness metric, which tracks whether investors are spending or holding, continues to decline. This indicates fewer coins are being spent even at elevated prices.
$BTC Liveliness – a metric tracking if investors are holding or spending – continues to trend down. Unlike past ATHs where profit-taking spiked, this time investors are keeping their coins untouched, reinforcing strong holding behavior near price highs: https://t.co/cfndE1iz0a pic.twitter.com/D7ZCpKYtGN
— glassnode (@glassnode) July 3, 2025
Long-term holders now control a record 14.7 million BTC, suggesting most coins purchased during the $100,000 breakout remain dormant. This further confirms strong bullish sentiment among seasoned investors.
Long-term holders – investors who’ve held #BTC for over 155 days and are statistically less likely to sell – now own a record 14.7M $BTC. Most coins bought near the $100k breakout remain dormant, signaling strong conviction across the market: https://t.co/xRlN2V2S68 pic.twitter.com/AzlkQRK5l9
— glassnode (@glassnode) July 3, 2025
ETFs Fuel Demand Despite Low On-Chain Activity
While Bitcoin trades above $109,000, the number of active on-chain addresses has remained around 850,000, similar to levels seen when Bitcoin was around $16,000 in 2022.
As per a CryptoQuant analyst, this disconnect suggests that spot Bitcoin ETFs are emerging as the dominant force in driving inflows.
Institutional products like BlackRock’s spot Bitcoin ETF have enabled thousands of investors to gain exposure to Bitcoin without generating significant on-chain activity.
On average, BlackRock’s ETF processes only 24 transactions weekly while moving over 6,400 BTC.
BTC Price Eyes $120,000
On the daily chart, Bitcoin is trading along the upper Bollinger Band while holding above the middle band (20-day SMA) at $105,900).
This suggests a strong bullish structure. A clear breakout above the $110,000 resistance could lead the cryptocurrency toward a new potential peak.
BTC price chart with RSI and Bollinger Bands | Source: Trading View
Meanwhile, the RSI is currently around 60, suggesting room for further upside before entering the overbought region.
Popular analyst Lucky recently noted on X that BTC has been forming a bullish flag on the daily chart since early-May. He suggested that if this pattern plays out, traders could expect a price surge to $120,000 in the near-term.
$BTC is aiming for an historic breakout.
Eyes on 120K. 👀 pic.twitter.com/L2ZB7ObYvI
— Lucky (@LLuciano_BTC) July 3, 2025
However, if Bitcoin fails to hold above the $108,000–$105,000 support zone, it may trigger a corrective move toward $101,500.
Bitcoin Bull Presale Heats Up as BTC Holds Firm Above $109K
With Bitcoin maintaining strength above $109,000, a rising meme coin, Bitcoin Bull, is capturing fresh interest among investors. The project is gaining buzz with its clear proposition: harness Bitcoin’s upward momentum while increasing returns for its community.
BTCBULL: Incentive Structure and Presale
BTCBULL, the native token of the Bitcoin Bull ecosystem, features a milestone-driven presale structure tied directly to Bitcoin’s price trajectory. For every $25,000 increment in Bitcoin’s price between $100,000 and $250,000, BTCBULL holders gain access to additional rewards.
These rewards include periodic deflationary burns of BTCBULL tokens and direct Bitcoin airdrops, fostering community enthusiasm.
The project’s final milestone is set at a $250,000 Bitcoin price, triggering a major BTCBULL airdrop for dedicated holders. This results in a long-term reward pathway within the ecosystem.
BTCBULL Presale Snapshot
Current Price: $0.002585
Funds Raised: $7.9 million
Ticker: BTCBULL
Accepted Payments: ETH, USDT
The presale has gathered momentum, raising $7.9 million toward its $8.8 million goal, reflecting investor confidence in the project’s design. Given Bitcoin’s steady climb and market optimism, BTCBULL’s value could see an uptick in the near term.
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