Bitcoin Resistance Near $116K May Signal Potential Rally Amid Market Volatility and Holder Profitability

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.