On-chain Metrics Indicate Potential for Further Bitcoin Rally
2025-07-11 20:22:23
Main Idea
Bitcoin's price surged past $118,000 amid strong demand from long-term investors, with analysts predicting further growth and key technical levels to watch.
Key Points
1. Bitcoin breached the $118,000 mark on July 11, with the balance of 'accumulators' reaching an annual high of 248,000 BTC, a 71% increase since June 22.
2. Analyst Axel Adler Jr. identifies $130,900 as the first profit-taking point, with the MVRV ratio needing to reach 2.75 for distribution to begin.
3. Kyle Reidhead predicts a $150,000 target for Bitcoin, citing a bullish cup-and-handle formation observed in June.
4. Factors influencing Bitcoin's strength include pro-cryptocurrency rhetoric from US political figures, steady ETF inflows, and increased corporate treasury interest.
5. Key technical levels include $108,500 (support) and $130,000 (resistance), with consolidation above $130,000 potentially leading to further growth.
Description
On July 11, Bitcoin breached the $118,000 mark. This growth occurred amid active buying by long-term investors. According to CryptoQuant, the balance of ”accumulators” reached an annual maximum of 248,000 BTC. The figure has increased by 71% since June 22. Such strong demand was last seen on December 20, 2025. At that time, Bitcoin traded at $97,000, and the number of coins held at holders' addresses reached a record 278,000 BTC. A Signal for Growth Demand is recovering from a dip in the fourth ...
Latest News
- On-chain Metrics Indicate Potential for Further Bitcoin Rally2025-07-11 20:22:23
- Justin Sun Purchases $100 Million Worth of TRUMP Tokens2025-07-11 16:03:15
- Hacker Returns $40 Million Stolen to GMX2025-07-11 15:03:56
- Jonathan Gould Confirmed as OCC Head in Senate Vote2025-07-11 13:34:29
- Binance Celebrates 8 Years with a Record 280 Million Users2025-07-11 13:07:26