Mike Smith
5 days ago
After a rapid breakthrough to a new historical maximum, Bitcoin experienced a short-term correction, but is already showing signs of recovery. At the moment, the main cryptocurrency is trying to consolidate above key points in order to open the way to even higher marks, while analysts note the confidence of market participants and the influx of fresh capital.
Over the past year, interest in BTC has grown significantly: the number of new investors increased significantly between July and December 2024 and again from March to May 2025. Both surges coincided with active growth in quotes, indicating a constant inflow of funds and increasing optimism in the market. Support from newcomers is complemented by stable demand from experienced holders.
Long-term market participants continue to increase their positions, demonstrating faith in further growth. According to Glassnode, the net position of “hodlers” is steadily growing: they accumulate coins, providing a foundation for bullish momentum even against the background of short-term fluctuations. This trend of constant accumulation helps BTC remain resilient to fluctuations and creates a basis for future upward movements.
Bitcoin is currently trading around $ 109,160, being close to the resistance at $ 110,000. Overcoming this level can attract additional interest from buyers and strengthen the upward trend. In case of successful consolidation above this line, the first target is to update the limit at $ 111,980, and then to conquer the mark of $ 115,000.
The risks are associated with a possible slowdown in LTH accumulation or an increase in sales volumes, which is fraught with a loss of support. A drop below $106,265 could trigger a pullback to $105,000 and temporarily reverse the bullish sentiment. At the same time, high volatility remains, and it is the market's reaction to the nearest barriers that will determine the further trajectory of the cryptocurrency.
