Bitcoin Price Outlook: Bull Run Intact After $110K Dip
Bitcoin price outlook remains bullish after a 2.12% seven-day decline and a brief dip below $110,000. Key on-chain signals support continued upside: exchange balances have fallen to multi-month lows, reducing immediate selling pressure. The market MVRV ratio sits under 3.6, well below levels seen at past cycle tops. Long-term holders are accumulating, while miner sales remain subdued. Trading volume jumped 36.7% to $60.4 billion, underscoring healthy liquidity. Analysts note that any pullback toward $103,000 could serve as an accumulation opportunity rather than a trend reversal. If demand holds and on-chain metrics stay constructive, the bull run is likely to continue. Watch $110,000 for resistance and $103,000 for support.
Bullish
This news points to a bullish market impact. Historically, declining exchange balances and subdued miner selling have preceded price rallies by reducing supply pressure. In prior bull cycles, MVRV levels below historical tops and strong accumulation by long-term holders signaled further upside. The recent 2.12% pullback mirrors healthy corrections in past bull markets, often followed by renewed gains. Elevated trading volume of $60.4 billion underscores robust liquidity that can absorb dips. Analysts’ expectation of a $103,000 floor aligns with accumulation behavior seen in previous cycles. If on-chain metrics remain constructive and demand persists, traders are likely to view dips as buying opportunities, reinforcing upward momentum in both the short and long term.