Bitcoin Resistance Near $116K May Signal Potential Rally Amid Market Volatility and Holder Profitability
Main Idea
Bitcoin's current resistance level at $115,891 is critical for a potential rally, with over 91% of BTC holders currently profitable, indicating a predominantly bullish market sentiment despite recent price volatility.
Key Points
1. Bitcoin has declined by 4.05% in the past week, but over 91% of BTC holders are 'In The Money,' holding 18.26 million BTC worth $2.08 trillion.
2. The resistance level at $115,891 is a key price point; breaking it could lead to a significant rally toward $150,000.
3. On-chain data shows 7.06% of holders are 'Out Of The Money' (1.41 million BTC worth $159.83 billion), potentially introducing selling pressure.
4. Market volume is down 21.79% to $67.56 billion, reflecting cautious investor behavior amid volatility.
5. Investors should monitor the $115,891 resistance level for potential breakout signals, as high holder profitability suggests bullish sentiment.
Description
Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! Bitcoin has declined
Latest News
- US Regulators Explore Expanded Frameworks for Bitcoin Amid Efforts to Lead Global Crypto Market2025-08-02 19:26:32
- UK May Lift Retail Ban on Bitcoin ETNs in October as Crypto Regulation Advances2025-08-02 19:10:13
- Spacecoin and Other Sketchy Token2049 Sponsors May Persist Amid Speculation and Community Support2025-08-02 18:44:14
- ETH Price Surge Beyond $3,595 Could Trigger $2.356 Billion Short Liquidations on Major CEXs2025-08-02 18:41:43
- Bitcoin Price Dips Below $113,000 Amid Ongoing Cryptocurrency Market Decline2025-08-02 18:28:15