Bitcoin ignites a key new high! Breaking daily and weekly records, $108,000 is just the beginning?

Bitcoin is surging, with daily and weekly records being refreshed, is the market about to usher in a new round of outbreaks?

On March 18, Bitcoin hit new highs in both daily and weekly closing prices on major platforms, with the weekly price reaching $106,454, surpassing last December's high of $104,463; the daily price also rose slightly, showing strong market support.

Accumulation stage promotes strong breakthrough

On-chain data shows that Bitcoin had previously completed a round of deep accumulation in the $94,000 range. With the surge in spot buying, bullish confidence has continued to strengthen. Although some whales remain on the sidelines, the overall market remains strong.

Over the past month, spot buying pressure on major trading platforms has risen rapidly. Exchanges that once experienced large-scale sell-offs are now showing significantly reduced pressure, with shorts retreating and longs taking over.

Strong support zone emerges, foundation for skyrocketing has been built

On-chain data shows that funds have concentrated in the $85,000 to $95,000 area, forming a clear concentration band of chips. This zone is considered a "correction buffer," and even if prices experience short-term fluctuations, they will quickly be pulled up by buying.

Currently, the cost zone for short-term holders is concentrated at $94,200, coinciding with the on-chain support zone, forming a resonance support from both the technical and fundamental aspects.

Liquidation triggered above 106,600, short-term may fluctuate and wash

According to the liquidation heatmap, a large number of leveraged liquidations have occurred in the $106,600 area, becoming a key liquidity zone. The current price is highly attractive, and there may be a short-term dip to the $98,400 - $101,000 range, but the long-term trend is still bullish.

Market direction: Bullish dominated, outbreak approaching

Despite the risk of short-term corrections, historical closing prices have laid the foundation for a new round of offensive. Bitcoin is standing at the $108,000 threshold, ready to go!

Conclusion: On-chain accumulation + strong spot buying + historical new highs, the next wave of Bitcoin market may be more violent than you think!