Bitcoin Holds Above $115K, Eyes $120K Amid Mixed Signals
Bitcoin is holding above $115,000 following bullish whale accumulation and a skew toward call-option buys, while retail-driven sell pressure on Binance turned net taker volume negative. Regional price premiums diverge: the US Coinbase Premium is flat, whereas the Korean premium has dipped below zero, reflecting uneven retail demand. A liquidity battle between $115K and $120K saw $2.3 billion in buy orders offset $4.1 billion of sell orders on Binance. Although on-chain activity has declined and futures funding rates remain elevated, a rebound from the daily fair value gap at $112,000–$115,200 could spark a breakout above the all-time high near $123,100. Analysts are split: some models project $139,000–$150,000 by year-end, while others warn of overbought conditions and urge profit-taking. Traders should watch support in the mid-$110K region and a sustained close above $120K to confirm renewed upside momentum.
Bullish
Bullish whale accumulation and a positive call-option skew indicate strong institutional demand, while key support above $115K has held firm despite retail sell pressure and declining network activity. The liquidity battle between $115K and $120K, along with the potential rebound from the daily fair value gap, points to a likely breakout above the all-time high if buyers maintain control. Although overbought warnings and macro factors add caution, the overall trajectory remains upward, supporting a bullish outlook in both the short and medium term.