- Bitcoin breaks $113K after retail holders exit, with large wallets absorbing supply during wallet growth slowdown.
- Volume hits 12.16K BTC as Bitcoin prints higher lows since June and RSI climbs to 67.41 on strong breakout momentum.
- Bitcoin surged $2,506 in a single day, reclaiming levels last seen before consolidation and pushing toward $113,788 resistance.
Bitcoin has surged past $113,000 after a sharp breakout triggered by a retail-driven wallet drop and accumulation phase. This move follows seven weeks of consolidation and marks the strongest upside extension since early June.
Retail Exit Sets the Stage for Bitcoin’s Latest Rally
Bitcoin’s latest surge developed after a clear shift in wallet activity and bullish momentum across the chart. Price climbed $2,506 to $113,739.99, reclaiming levels not seen since its last major push. The breakout followed a period where retail wallet growth slowed and larger players stepped in.
According to Santiment, Bitcoin hit a new all-time high of $112,152 after weeks of subdued price action and growing retail fatigue. He also noted that during this stretch, the number of small wallets dropped, signaling capitulation from less confident holders. That dropoff coincided with a sharp rally as Bitcoin moved against the crowd’s fear-driven sentiment.
In analyzing the trend, he identifies a consistent pattern-Bitcoin tends to accelerate when small holders exit and larger wallets absorb supply. He adds that this wallet behavior shows up repeatedly before major rallies, making this most recent surge technically aligned with historical norms. Price action turned bullish immediately after the distribution phase stabilized.
What’s equally important is how Bitcoin behaved structurally during the consolidation. The price held its range with tight candles while volume stayed steady. This combination often signals preparation for directional movement, confirmed here with the break above $113,000.
Momentum Indicators Confirm Strength Behind Bitcoin’s Breakout
Bitcoin’s current structure shows more than just price expansion-it reveals supporting evidence across multiple indicators. With daily volume printing at 12.16K BTC, the move has weight. The high for the session stands at $113,788.23 while the low held firmly at $110,500.00.
Source: TradingView
Looking at the RSI, Bitcoin now prints 67.41, clearly above the 57.29 signal line. This places the cryptocurrency in a bullish continuation zone, but still below extreme levels. From this setup, could Bitcoin reclaim more ground, or will price face resistance near current highs?
Tracking past resistance, TradingView data shows Bitcoin breaking out with rising volume and strong RSI momentum. The chart also reveals a clear series of higher lows since mid-June, reinforcing the bullish setup. Traders now watch closely to see if Bitcoin can close above $113,788.23 to extend its rally.
