Bitcoin Eyes $115K: The Bull Case That’s Hard to Ignore

Bitcoin's next stop: six figures? The crypto king isn't asking permission—it's charging toward $115,000 with a momentum that's turning skeptics into believers.

The Halving Effect: Scarcity as Rocket Fuel

Supply cuts meet institutional demand. With the last halving in the rearview, history suggests we're entering the 'boom' phase of Bitcoin's four-year cycle.

Wall Street's Late-Game FOMO

BlackRock's ETF was just the start. Now pension funds are dipping toes in—right as your financial advisor finally admits crypto might not be 'just a scam.'

Technical Breakout or Breakthrough?

The charts scream bullish. Bitcoin smashed through its 2021 ATH like tissue paper, and there's no meaningful resistance until six figures. Even gold bugs are sweating.

Could this rally fizzle? Sure—just like the internet was 'a fad.' Meanwhile, the Fed keeps printing, banks keep failing, and Bitcoin keeps cutting out the middlemen. Place your bets.

Bitcoin presses into resistance

Bitcoin’s price action is starting to feel familiar, almost too familiar. After topping out at $111k, BTC is now making its second run at that level in just over a month, eyeing a potential breakout into price discovery.

The first test saw BTC rejected hard at $110,350, triggering a swift 10.8% drawdown over two weeks. Now, with 67% of Binance accounts skewed short, it appears late-positioned bears are betting on a similar outcome.

Adding to the caution, Open Interest is now approaching $78 billion.

Coincidentally, it is the same elevated level that preceded the last cascade of liquidations when a $10 billion liquidity flush hit the market, intensifying BTC’s 10.8% slide.

Source: CoinGlass

Meanwhile, the Taker Buy/Sell Ratio has dropped 3.71%, a clear sign that aggressive buying is cooling off just as BTC retests historical resistance.

With on-chain signals mirroring the setup from last month, shorts appear to be positioning with precision, tactically loading up for another leg down.

In that case, is Bitcoin’s $109k reclaim shaping up to be a repeat setup for another double-digit drawdown, or the perfect pressure point for a violent upside squeeze?

Can bulls flip the script this time?

Historically, it takes a combination of FOMO-driven inflows and long-term conviction to crack major resistance in Bitcoin’s price action. In fact, that mix might just be forming again.

On-chain activity shows an 8% spike in new address creation, alongside $407 million in BTC ETF inflows and a rising share of supply held by STHs, pointing to fresh capital and renewed Optimism entering the market.

But beneath the surface, the foundation looks even stronger. 

According to Glassnode, Long-term holders (investors who’ve held BTC for over 155 days) now own a record 14.7 million coins. What’s striking is that most of the Bitcoin bought during the $100k breakout hasn’t moved. 

Source: Glassnode

Put together, this lack of distribution at local highs is compressing available supply into stronger hands, while retail-driven capital is beginning to rotate back in. The setup points to a classic liquidity squeeze.

That $115K level? It’s sitting on top of nearly $6 billion in short exposure. If current dynamics hold, bulls could use this liquidity cluster as fuel for the next breakout leg.