Bitcoin reclaims $115K – Mapping BTC’s road to $118K and beyond

Key Points

1. Bitcoin broke above the $115K resistance and is now targeting $118,327, supported by a base of higher lows on lower timeframes.

2. Over 120,000 BTC were acquired between $112K and $114K during the recent rebound, indicating opportunistic accumulation.

3. Long-term holders realized $44.5 million in profits in the last 48 hours, suggesting fragile conviction despite the price increase.

4. On-chain activity remains inconsistent, with weak network metrics like daily active addresses and transactions failing to support a strong breakout.

5. A rare positive Spot Netflow of $33.25 million was recorded, but it remains uncertain if this signals a trend shift or temporary repositioning.