Bitcoin Eyes $110K Rally as Selling Pressure Eases
Bitcoin price is consolidating above $100,000 with easing selling pressure from long-term holders. Weekly realized profits have halved to $1–2 billion, indicating reduced downward force. On-chain metrics from Glassnode and CryptoQuant show ETF outflows slowing and whale dominance capping volatility. Macro tailwinds, including a potential U.S. government shutdown resolution and looming Fed rate cuts, may boost liquidity and support risk assets. Analysts at Bitfinex, Swissblock and QCP Capital highlight a critical pivot zone between $108,000 and $110,000. Reclaiming these levels could spark a rally toward $118,000 or beyond. Experts estimate a bullish reversal if Bitcoin price holds above $100,000, making current levels an attractive entry point. Traders should watch short-term support and resistance to capitalize on potential momentum shifts while managing risk amid range-bound conditions.
Bullish
Reduced selling pressure and supportive macro conditions point to a bullish outlook. Historically, periods of lower realized profits from long-term holders have preceded upward trends in Bitcoin. The halving of weekly profit-taking to $1–2 billion signals diminished supply pressure. Combined with potential Fed rate cuts and the resolution of U.S. fiscal uncertainties, liquidity may rise, encouraging accumulation. On-chain data showing slowing ETF outflows and whale dominance suggests consolidation before a breakout. If BTC reclaims the $108K–$110K range, it could trigger renewed momentum, mirroring past mid-year rallies following similar macro and on-chain cues. In the short term, traders should monitor range-bound levels; long-term prospects remain bullish as market structure supports higher highs.