- 98% of Bitcoin supply is now in profit, signaling peak holder confidence and rally potential.
- Strong ETF inflows and whale accumulation suggest robust institutional demand near $107K.
- Technical signals point to a breakout, with targets set at $140K short-term and $200K by year-end.
Bitcoin has shown strong signs of entering a new bull phase, with analysts pointing to historical patterns and current market data. The price has remained above key psychological and technical levels, and at the time of writing, BTC was trading at $106,883, showing growing market interest.
Profitability Metrics and Institutional Demand Support Uptrend
According to data from Glassnode, Bitcoin’s supply in profit surged to 98% in late June, up from 87% just days earlier. This rise suggests most holders are seeing gains, which often aligns with peak optimism and the start of accelerated rallies. The realized profit/loss ratio has also climbed to 2.8, marking a 156% increase from June 22.
Market participants are closely watching long-term holder activity. Over $2.46 billion in daily realized profits was recorded during mid-June. Despite this, Bitcoin has managed to hold steady near $107,000, indicating that strong institutional buying is absorbing the selling pressure.
Institutional involvement continues to grow. US spot Bitcoin ETFs recorded $2.21 billion in inflows last week, while MicroStrategy added nearly 5,000 BTC to its balance sheet. These inflows show steady accumulation, supporting the idea that Bitcoin’s current price zone could be a launch point for further gains.
Technical Indicators Point Toward Upcoming Breakout
Technical analysts note that Bitcoin is trading within a range of $100,000 to $110,000. According to an observation by Stockmoney Lizards, BTC is preparing to break above a multi-year trendline. Their short-term target stands at $140,000, with a year-end goal of $200,000.
The Relative Strength Index (RSI) on the weekly chart is below the overbought zone, suggesting more room for upward movement. Analyst OxNobler noted that Bitcoin is set to trigger its first Bullish Cross on July 3. The last occurrence in 2021 marked the start of a major rally.
With ETF inflows rising, whale accumulation continuing, and technical patterns aligning, analysts expect Bitcoin to challenge resistance levels soon. July’s historical performance also supports this view, with BTC averaging over 7% monthly gains since 2013.
