The main dishes to remember:
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The Bitcoin STH cost base, MVRV data and other technical indicators suggest that the BTC price is on the right track around $ 117,000.
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Analysts suggest that an escape greater than $ 109,000 to $ 110,000 could push BTC to new heights of all time.
Bitcoin (BTC) was negotiated in a “well -defined” range in the past six months while traders anticipate a potential escape.
Onchain indicators, including the basis of the cost of the short -term holder (STH), indicate an upward escape around $ 117,000 or more.
Bitcoin Price Eyes $ $ 117,000
Since January, the Bitcoin price has generally been negotiated in a large range of $ 78,000 to $ 110,000, according to Cointelegraph Markets Pro and TradingView data.
It is a “well-defined” range marked by the basic short-term support bands (STH), according to the ONCHAIN Analytics Glassnode platform. The STH cost base refers to the average purchase price of investors who hold bitcoin for less than 155 days.
In relation: Bitcoin The profit made of $ 140,000 Key BTC Price Points: Research
The price touched the upper band of this metric in May at $ 112,000, when it reached its top of all current time. If the BTC increases to retest the line, it will probably increase around $ 117,000 in the short term.
“The upper limit of the STH cost base was only tested once at the end of May and is currently $ 117,113,” said the market intelligence in an article on July 2 on X, adding:
“This level can be considered the higher band of short -term prices action.”
The metric of the value achieved of the market value (MVRV), a metric that measures whether the asset is overvalued or not, suggests that the BTC price has even more room for additional expansion before the unpaid profit value reaches an extreme level represented by the higher MVRV band around $ 123,000.
When BTC Price Breakout?
Meanwhile, the popular merchant and analyst Rekt Capital shows that Bitcoin already rewards his descending trend with several degrees.
“How many more refusals of the trend line daily decreases before Bitcoin finally breaks out?” He asked, wondering if the level weakened as a rejection point.
A table that accompanies him revealed that the downward trend line at $ 109,000 is now a key escape level.
“Bitcoin needs a daily closure above and re-down of the downward trend line as a support to confirm the break.”
Analyst Jelle estimated that Bitcoin will break out once it will be done above the upper limit of a bull flag at $ 110,000 on the daily time, with a measured target of $ 130,000.
#Bitcoin Pushes for an escape from the Haussier flag! 👀
Discover $ 110,000 and the first target is $ 130,000. 📈 pic.twitter.com/fwzyzziard
– Jelle (@cryptojellenl) July 2, 2025
As Cointtelegraph reported, several Bitcoin traders are cautiously optimistic about a decisive resistance break at $ 109,000.
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
