Bitcoin’s Bull Run Eyes $114K—Here’s What’s Fueling the Surge

Two critical drivers are pushing BTC toward record highs—while Wall Street scrambles to keep up.

Forget ’slow and steady.’ Bitcoin’s price action just shifted into hyperdrive, with analysts pinpointing $114,000 as the next plausible target. What’s behind the momentum?

First: Institutional FOMO hits overdrive. Spot ETF inflows smashed records last week—$1.5 billion in three days—as hedge funds finally wake up to crypto’s 24/7 markets.

Second: The halving effect kicks in. With new supply slashed by 50%, even modest demand sends prices vertical. Miners are hoarding, exchanges are running low, and your broker still thinks it’s ’just a speculative asset.’

Will it last? History says yes—until the next ’black swan’ sends suits running for their Excel spreadsheets.

Are whales quietly accumulating as outflows vanish?

Large holder behavior has shifted sharply. Over the last week, inflows surged over 11,800%, while outflows dropped more than 91%. 

This stark contrast reveals a net accumulation phase, where big players are moving assets into holding wallets. Such behavior reflects strong conviction and reduces the likelihood of near-term sell pressure. 

Furthermore, the absence of corresponding outflows suggests these whales are not rotating capital between exchanges but are instead accumulating for longer-term exposure. 

Source: IntoTheBlock

On-chain foundation strengthening amid tighter supply

Exchange reserves have declined by 2.14%, dropping to $262.3 billion. This drop signals that fewer coins remain on centralized platforms, which often leads to reduced sell-side pressure. 

When reserves fall in tandem with rising prices, it typically suggests that holders are opting for self-custody instead of planning to sell. 

Meanwhile, the BTC NVT Golden Cross has dropped more than 12% to 0.43, indicating that valuation is aligning well with network activity. 

This combination of supply contraction and healthy utility supports a sustainable rally with fewer signs of speculative overheating.

Source: CryptoQuant

Are leveraged traders resetting?

The BTC Binance liquidation map shows a concentration of short liquidations above $108K, signaling that bears are being squeezed as price climbs. 

With significant liquidation clusters between $111K and $114K, any further upside could trigger cascading exits. 

However, Open Interest has dropped by 5.26%, suggesting that overall speculative pressure is cooling. This reset may flush out overleveraged traders and reduce the chance of sudden reversals. 

If BTC maintains its current trend, this period of rebalancing may lay the groundwork for more stable bullish momentum ahead.

Source: Coinglass

Can BTC extend its rally while respecting the trendline?

BTC continued to trade above a clean ascending trendline on the 4-hour chart at press time, currently bouncing NEAR the 1.618 Fibonacci level at $107.7K.

This support has been tested but not broken, indicating strong buying interest. 

So long as price action stays above the trendline, the bullish structure remains valid. If bulls push past $110.8K and clear resistance at $114K, further expansion toward $115.9K becomes likely. 

However, a break below the trendline could invalidate the setup and trigger a short-term correction to $105K or lower.

Source: TradingView

BTC’s current structure reflects a healthy uptrend supported by institutional accumulation, shrinking supply, and reduced speculative pressure. 

The trendline continues to act as a firm base, while short liquidations and declining NVT reinforce upward momentum. As long as support holds above $107.7K, Bitcoin appears positioned to target $111K–$114K next.