Bitcoin Soars Past $115,000 Milestone as Spot Investors Defy Market Fears

Bitcoin smashes through resistance levels as long-term holders dig in their heels

The Unshakeable Bull Case

While paper hands panic over short-term volatility, spot investors are loading up their bags. The $115,000 threshold isn't just another number—it's a psychological battleground where weak hands get shaken out and diamond hands get rewarded.

Institutional Money Floodgates

Wall Street's latest attempt to understand crypto fundamentals while ignoring the technology itself continues to amuse. They're finally realizing what retail investors knew years ago—you can't stop digital gold from shining.

The Fear vs Greed Reality

Market sentiment indicators scream caution, but on-chain metrics tell a different story. Wallets are accumulating, not dumping. Network activity surges while traditional finance scrambles to catch up.

Remember when analysts said Bitcoin would never recover? Neither do we.

Bitcoin Holders Show Restraint

Despite the steep market decline, Bitcoin investors have shown strong conviction. Data from exchange net positions reveals that in the last three days, while BTC tumbled, only about 6,000 BTC—worth approximately $688 million—flowed into exchanges. This limited inflow indicates minimal selling activity from holders, even as volatility surged.

While many futures traders faced liquidations during the crash, spot investors held firm. Their decision to maintain positions rather than sell at a loss has acted as a stabilizing force, preventing a sharper downturn.

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The broader momentum in the market remains cautious. The bitcoin Long/Short Bias chart, which measures the aggregate net positions of major BTC traders on Hyperliquid, showed a sharp increase in net shorts beginning October 6, days before the crash. This early shift signaled growing bearish sentiment among institutional traders.

Although some of these positions have since been reduced, the chart remains notably negative. This suggests that while recovery is underway, market sentiment has not fully shifted toward optimism.

BTC Price Is Attempting Recovery

Bitcoin is currently trading around $114,553, just below the critical $115,000 resistance level. It briefly surpassed this mark during the intra-day high but failed to maintain momentum, indicating ongoing selling pressure NEAR this threshold.

In the short term, Bitcoin’s outlook remains cautiously bullish, supported by strong holder sentiment. A successful reclaim of $115,000 could pave the way toward $117,261 and eventually $120,000. However, a full recovery WOULD require a sustained push back to $122,000.

But if the bearish pressure from traders outweighs investor restraint, Bitcoin could slip below $112,500. This could result in the crypto king testing the $110,000 support level and invalidating the bullish outlook.