Bitcoin to $115K next? Here’s why it’s not wishful thinking!

Key Points

1. Bitcoin surged 2.93% on July 2nd, closing at $109,792, its highest wick in 20 days, triggering FOMO and an 8.17% day-over-day increase in new addresses.

2. BTC is testing resistance near $111k, with 67% of Binance liquidations occurring when a $10 billion liquidity flush hit the market, indicating potential volatility.

3. The Taker Buy/Sell Ratio dropped 3.71%, signaling a cooling off of aggressive buying as BTC retests historical resistance levels.

4. On-chain data shows an 8% spike in new address creation, $407 million in BTC ETF inflows, and a rising share of supply held by short-term holders, indicating fresh capital and optimism.

5. Long-term holders now own a record 14.7 million BTC, with much of the Bitcoin bought during the $100k breakout remaining unmoved, suggesting strong underlying support.