$BTC
đ On-Chain Insights
Exchange Reserves â: Exchange-held BTC dropped ~11,100âŻBTC last week (â0.46%), hitting multi-year lowsâindicating fewer coins available to sell and strong accumulation pressure.
Long-Term Holder Dominance: Long-term holders now control ~74% of supply, the highest level in 15 yearsâa strong sign of conviction and reduced circulating supply.
Dormant Wallet Activity: Movement from century-old walletsâlike 20,000âŻBTC from 2011-era addressesâsignals HODLer repositioning, not dumping, implying market stability.
đ Technical Take
Base Range: BTC currently trades between $108Kâ$110K, holding above 200âday MA (~$96K) and near 50/200 golden cross, confirming longer-term bullish momentum.
Immediate Resistance: A breakout above $110Kâ$112K could trigger the next leg toward $114Kâ$120K, with upside potential to $143Kâ$150K+ if broader trends align.
Indicators: Rising RSI and funding rates point to bullish sentiment, though flat spot volume suggests a wait-and-see period before decisive moves.
⌠Summary & Strategy
Fundamentals are strong: Accumulation trends, low exchange reserves, and HODLer dominance signal a tight supply backdrop.
Watch the $110Kâ$112K zone: A sustained break above this area on high volume could ignite a powerful rally.
Manage risk: Expect occasional pullbacks to $105Kâ$107K as profit-taking occurs, but supply dynamics offer structural support.
Bottom line: On-chain metrics and technical signals align with bullish conditions for BTC. A breakout above $112K could mark the start of a significant new leg higherâso keep a close eye on that range.