Bitcoin Nears $110,500 Resistance as Long-Term Holder Supply and Institutional Accumulation Suggest 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.