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4 hours ago
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Bitcoin Shows Early Recovery Signs, Eyes Potential Surge to $115K

Bitcoin has shown signs of recovery after a turbulent period, with prices stabilizing near $105,000. The recent rebound suggests a potential upward trend, but key resistance at $110K remains untested.

  • Market momentum could push Bitcoin toward $115K if current trends continue.
  • Increased spot exchange outflows indicate renewed holding behavior among investors.
  • Derivatives market data shows reduced leverage, hinting at more sustainable uptrends.

Short-Term Holder MVRV Indicates Recovery Potential

  • The Short-Term Holder MVRV ratio has improved from a low of 0.9124 to 0.9514, suggesting easing selling pressure.
  • This pattern often precedes bullish movements, aligning with price levels between $115K and $120K if the trend continues.

BTC STH MVRV 155 days Range | Source: Axel Adler

Reclaiming Ground After Correction

  • Bitcoin's price action shows a bounce from the 200-day moving average, a critical support level.
  • The 50-day and 100-day moving averages signal weak momentum, requiring a breakout above the $108K–$110K range for a trend reversal.

BTC reclaims key levels | Source: BTCUSDT chart on TradingView

If Bitcoin maintains support above $103K and consolidates with increased volume, it may target the $115K region. A drop below $100K could lead to further downside risk towards $95K.