Bitcoin has decisively broken above the crucial $113,000 resistance level, signaling a robust bullish trend and establishing a confirmed price target of $137,000. This upward momentum is underscored by exceptionally strong market activity and near-universal profitability among holders.
The cryptocurrency currently trades near $118,000, reflecting sustained strength following its breakout. This significant move validates the ongoing rally and reinforces positive market sentiment.
Near-universal holder profitability provides substantial support for the bullish outlook, with reports indicating approximately 98% of Bitcoin holders are currently in profit. This widespread profitability contributes significantly to market stability.
Bitcoin’s market capitalization is reported at approximately $2.37 trillion, while its fully diluted valuation approaches $2.47 trillion. The substantial market size underscores Bitcoin’s dominant position within the cryptocurrency ecosystem.
Robust liquidity is evident from recent large transaction volumes, which totaled $229 billion over the past seven days. This high volume points to active portfolio adjustments by major holders and institutions.
Market analysts have identified an extended technical target of $137,000 for Bitcoin’s price trajectory. Some forecasts suggest the rally could potentially approach the $138,000 level based on current momentum and technical indicators.