Bitcoin at $110K: Is the Bull Cycle Nearing Its Peak?
Bitcoin surged to a new high above $110,000 as the Bitcoin bull cycle approaches a critical phase. Technical analysis from TradingShot forecasts a market peak by mid-October 2025 near the 0.786 Fibonacci time extension, followed by a significant correction into 2026. On-chain data from Glassnode highlights key support levels: $109,400 for short-term holders and $36,700 for long-term investors. To sustain momentum, Bitcoin must hold the $110,000 threshold. At writing, BTC trades at $110,774, down 1.7% over 24 hours but up 1.5% on the week. Traders should watch the realized price of short-term holders closely; a drop below $109,400 could trigger deeper retracement. Overall, the Bitcoin bull cycle faces major tests ahead, with Fibonacci targets and support levels guiding entry and exit strategies.
Bearish
The report signals that Bitcoin’s bull cycle is approaching its historical peak, backed by TradingShot’s Fibonacci time extension and on-chain support levels. When key supports near $109,400 fail, past cycles have entered corrective phases. Traders are likely to lock in profits as Bitcoin nears its 0.786 Fibonacci target, increasing selling pressure. In the short term, a breach of critical support could trigger further declines, while long-term holders may hold for cycle lows in 2026. This pattern points to a bearish bias for the upcoming months.