Bitcoin (BTC) is once again testing a critical support level between $111K–$113K, and analysts believe this could be the final major discount before a push to new highs.
Why $113K Matters
The URPD metric shows nearly 5.5% of BTC supply has shifted hands at $110K–$113K.
This indicates strong accumulation by “fresh” investors, absorbing nearly 715,000 BTC released by whales.
Historically, such clustering has been a launchpad for rallies.
Technical Signals
RSI has reclaimed the 50 level, now acting as support.
A decisive close above $117,300 could trigger a run toward $120K and beyond.
Analysts note miner accumulation and wallet cohort shifts are reinforcing the bullish case.
Investor Behavior: Whales Out, Sharks In
Whales (1K–10K BTC wallets) cut 324,000 BTC since March 2024.
Humpbacks (10K+ BTC wallets) reduced another 391,000 BTC.
This supply, however, has been absorbed by mid-sized holders (100–1,000 BTC wallets) who added nearly 1M BTC since July 2024.
Bottom Line
With the FOMC interest rate decision around the corner, BTC may experience short-term volatility. But as long as the $111K–$113K support holds, the stage is set for another structural breakout toward $120K.
👉 For traders, this dip might not be fear—it could be the last golden buying zone before Bitcoin’s next big rally.
