Analysis of Bitcoin Value: Could This be BTC's Final Dip Prior to Achieving a New Record High?

Bitcoin's price, after facing minor resistance at the critical $111K mark, is likely undergoing a correction phase, with expectations to find support and surge towards the $111K all-time high. This speculation is supported by the price entering a daily Fair Value Gap (FVG) between $106K-$108K, which is typically linked with strong demand and buying interest. If Bitcoin remains above this FVG, it may resume its upward momentum.

However, a breakdown below the FVG could lead to a deeper correction, with $100K as the next major support. Recent on-chain activity, including reduced exchange supply and increasing confidence from long-term investors, strengthens the case for Bitcoin's continued uptrend. Evidently, a series of negative netflow days since June 6th indicates investors are moving their holdings into cold storage, reducing sell-side pressure on the market.