$BTC

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📊 Bitcoin (BTC) Snapshot

Price: $111K–112K).

Market cap: ≈ $2.16 trillion, with ~19.89 million BTC in circulation (~95% of supply).

24‑hour volume: ~$45–47 billion

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🔍 Recent Price & On‑Chain Insights

1. Undervalued per Mayer Multiple

Current Mayer Multiple around ~1.1× the 200‑day MA indicates neutral to undervalued conditions, backing odds of another upward leg. Analysts anticipate a peak near $108K–$120K, with some pointing to a blow‑off top in October 2025.

2. Resistance near $110K–111K

BTC faces strong selling pressure around $110,500–111,000, with signs of consolidation or slight pullbacks expected before any breakout above $112K ATH.

3. On‑chain stability vs leverage

Long-term holders continue to hold (HODL), while institutional demand remains firm, with ~$2.2 billion flowing into spot Bitcoin ETFs last week—suggesting a standoff poised to break higher.

4. Futures & options bullish signals

Derivatives markets show reduced demand for downside hedging, hinting at bullish trader sentiment.

5. Dormant-wallet movements

Notable large transfers from wallets dormant since 2011 (~10k BTC each) have fueled speculation, though there’s no evidence of selling yet. Such movements draw attention due to potential market impact if liquidated.

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🎯 Key Levels to Watch

Level Significance

Support: ~$105K Demand zone; recent dips saw buying interest

Resistance: ~$110K ↔ $112K Consolidation range; resistance remains firm

Upside target: $120K–200K+ Analyst projections range from pop to $120K up to Standard Chartered's $200K year-end forecast

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⏳ Outlook & Strategies

Short-term: Expect sideways to slightly bullish movement within $105K–110K as market digests recent highs.

Mid-term: A decisive breakout above $112K, supported by volume and sentiment, may signal a run toward $120K.

Long-term: If institutional inflows persist, macro uncertainty continues, and on-chain strength holds, the path to $150K–200K by year-end is plausible.

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