Bitcoin Nears $110,500 Resistance as Long-Term Holder Supply and Institutional Accumulation Suggest Potential Breakout
2025-07-10 02:53:18
Main Idea
Bitcoin is approaching the $110,500 resistance level with strong momentum, supported by long-term holder supply and institutional accumulation, suggesting a potential breakout.
Key Points
1. Bitcoin's long-term holders control over 80% of the circulating supply, a trend that historically precedes significant price rallies.
2. Institutional-grade wallets have accumulated over 19,400 BTC, with firms like Metaplanet and Tesla expanding their Bitcoin holdings.
3. Technical indicators, including a neutral RSI and bullish MACD, suggest Bitcoin is poised for a decisive move above the $107,000-$110,500 resistance range.
4. The recent Golden Cross (50-day moving average above the 200-day moving average) has historically led to substantial price gains, reinforcing a positive outlook.
5. Past occurrences of the Golden Cross in 2016, 2017, and 2020 resulted in price increases of +139%, +2200%, and +1190%, respectively.
Description
Bitcoin is gaining significant momentum near the $110,500 resistance level, driven by strong accumulation from long-term holders and institutional investors. The concentration of Bitcoin supply held by long-term holders has
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