Bitcoin en route to $ 117,000? A key indicator gives a strong signal

While the eyes remain riveted on the central banks and the upheavals of the equity markets, the Bitcoin advances against the tide, carried by net technical signals and coherent on-chain indicators. The threshold of $ 117,000 is now a credible objective, supported by the analysis of the behavior of short -term investors. This silent but tense trajectory could well mark the beginning of a new bullish impetus for the flagship asset of the crypto market.

A capital technical threshold identified at $ 117,000

The first trigger for the current upward tension lies in the analysis of on-chain data, in particular the short-term Holder cost basis, while Donald Trump is again interested in the assets and praises him laurels. This metric, which corresponds to the average price paid by investors who have acquired BTC for less than 155 days, plays an advanced indicator of the market feeling.

Glassnode specifies that this threshold “Represents the upper terminal of short -term price action”. However, this terminal was reached only once last May, when Bitcoin reached its highest Historic at the surrounding $ 112,000. Today, this level could move and be precisely at $ 117,113.

Several elements make it possible to understand why this threshold is today considered a key level to be monitored:

• The recent history of the prize: since January, the BTC has been evolving in a clearly defined range between $ 78,000 and $ 110,000, without leaving it decisively;

• The reaction passed at the threshold: the level of $ 112,000, close to the current $ 117,000, had coincided with the historic peak of May;

• The psychological role of the STH cost basis: as long as the price of the BTC remains above the average cost of short-term holders, the latter remain generally in profit, which tends to strengthen the upper market conviction;

• Glassnode data: The analytical infrastructure considers this threshold as “the upper limit of the action of short -term prices”, which makes it a natural target in the event of technical break.

This convergence of factors therefore places the $ 117,000 mark as a short -term strategic technical objective for Bitcoin.

The technical resistance of $ 110,000: potential trigger of a Bull Run from Bitcoin to $ 130,000

Beyond On-Chain data, the attention of technical analysts is now focusing on a decisive price area: the 109,000 to 110,000 dollars, identified as a potential break by several market figures.

Analyst Rekt Capital stresses that Bitcoin is in the process of “Reassemble its line of multi-monthly descending trend”. In addition, he wonders: “How many additional discharges before Bitcoin finally breaks?” »». On the graph published in support, this descending trend line constitutes a major resistance, and only a daily fence above would validate an upward rupture.

Another recognized analyst, Jelle, estimated For its part that the BTC could target the $ 130,000 if a fence is above the upper terminal of the “Bull Flag” at $ 110,000. For this, it is based on a measured objective from the current graphic configuration.

The MVRV (Market Value to Realized Value), for its part, still gives breath to this projection. The overheating zone has not yet been reached: it is around $ 123,000, which implies that the market has not yet reached an excessive level of valuation according to this metric.

The combination of a strong on-chain signal with a tense technical configuration reinforces the perspective of a next strong directional movement. If the BTC crosses $ 110,000 with conviction, an extension to $ 117,000 seems plausible, and some analysts even target $ 130,000 in the event of a clear break.