Bitcoin Dey Near $110.5K Breakout - Holders & Institution Dem Dey Gather
Bitcoin dey eye breakout near $110,500 afta e don surge pass $108,500 and e don cross di bearish trendline at $108,800. Di 3% rally push BTC go near $112,000, now e dey consolidate round di 23.6% Fibonacci retracement from $107,500. Long-term holders (wey don hold pass 155 days) dey control over 80% of di circulating supply, wey be historical sign for major rallies. Institutions don add over 19,400 BTC to di managed wallets dis week, show say demand don rise again. Technically, Bitcoin dey trade inside narrow channel between $107,000 and $110,500. Bollinger Bands dey tighten, RSI dey 52, and MACD dey show small bullish momentum. Recent Golden Cross—wey di 50-day MA cross over di 200-day MA—bin dey ahead of 100% gains for past cycles. Traders suppose watch for solid Bitcoin breakout pass $110,500. If e fit hold pass dis level, plus holder and institutional accumulation back am, e fit mean new bullish wave dey come. Key support dey for $110,800, $109,750 (50% Fib), and $107,500.
Bullish
Di combination of strong technical signals and serious on-chain accumulation dey show say di market get bullish outlook. For short term, Bitcoin break $108,500 plus di channel wey dey tighten suggest say breakout above $110,500 dey near. Di RSI and MACD wey mild-bullish, plus di recent Golden Cross, dey support further gains. Long-term holders dey hold over 80% supply, and institutions don add more than 19,400 BTC, wey dey strengthen market confidence. Historically, dis kain accumulation plus Golden Cross events na before big rallies, wey mean steady upward momentum dey. Traders fit expect say buying pressure go increase if BTC siddon above key support levels, fit trigger new bullish wave.