🔥 The Invisible Trap of Bitcoin: Is $105,000 the Next Pullback Target?
On-chain data shows that multiple areas of chip and cost overlap appear around $105k, which could become a key testing point for short-term volatility.
This is not a bearish signal, but it is significant for contract traders.👇
1️⃣ Historical Chip Wall: $105,644
UTxO cost distribution shows a significant chip dense area near $105,644, indicating that a large number of addresses have built positions here.
This is the on-chain "memory point"; once approached, it may trigger emotional fluctuations and trading behavior.
2️⃣ Mid-term Investor Cost: $106,000
Wallet addresses holding coins for 1 to 3 months have an average cost of around $106,000, indicating that the $105k to $106k range is the breakeven point for mid-term holders.
3️⃣ Short-term Holders (STH) Cost: $105,350
STH (holding period < 155 days) has an average holding cost of $105,350.
This group is sensitive to trading; if the price falls below this line, it may trigger panic selling pressure and exacerbate volatility.
📊 Three On-chain Indicators Focus on $105k to $106k
This is not a coincidence, but a resonance signal of fund behavior. This range could become a short-term support level, or it could be the "critical testing area" for market repricing.
⚠️ Not a Bear Market Signal, but Pullback Risk Exists
The long-term trend remains bullish, but the likelihood of a short-term pullback to $105k is increasing.
Leverage traders need to be cautious: if liquidation is triggered, it could lead to severe volatility or even a chain reaction.
🧠 Risk Management Advice:
General Investors: $105k is an important short-term observation point.
Leverage Users: It is recommended to control positions to avoid passive exit.
Do not predict a crash, but be prepared in terms of positions and emotions.
📌 In summary:
$105k is not a specific target, but a price dense area formed by the resonance of multiple on-chain indicators.
It is neither a top nor a bottom, but a signal area—worth paying attention to and operating cautiously.