Bitcoin (BTC) Bulls Charge Toward $141K – But This Critical Resistance Stands in the Way
Crypto's favorite digital gold is back in the spotlight as Bitcoin bulls gear up for a potential moonshot to $141,000. But before the champagne corks pop, there's one pesky detail: the king of crypto needs to smash through a key resistance zone first.
The make-or-break level
Traders are watching Bitcoin's current range like hawks—break through, and it's off to the races. Fail, and well... another round of 'when lambo?' memes. The market's collective PTSD from 2022's crash still lingers, making every resistance level feel like a psychological battleground.
Wall Street's watching—with one hand on the sell button
Institutional players are placing their bets while quietly calculating how many retail investors they can fleece this cycle. After all, what's a crypto rally without a few bagholders? The $141K target would mark a new all-time high—assuming Bitcoin can actually hold its gains this time.
One thing's certain: whether you're a diamond-handed HODLer or a day-trading degenerate, Bitcoin's next move will be anything but boring.
$141K Region Into Focus
Over the weekend, Bitcoin endured one of its largest liquidity tests to date. An early investor offloaded over 80,000 BTC, which is worth approximately $9.6 billion, via Galaxy Digital’s OTC services. The event briefly drove the price down to $115,000 before rebounding and stabilizing at around $119,000, just under the all-time high.
Despite the scale of the sell-off, Glassnote noted that the market demonstrated strong absorption capabilities. On-chain data reveals that over 97% of the circulating BTC supply remains in the money, as the aggregate unrealized profits reached an all-time high of $1.4 trillion.
This significant paper gain creates a growing incentive for profit-taking should prices continue to rise, particularly if bitcoin approaches the $141K level, which aligns with the +2σ standard deviation band of the Short-Term Holder (STH) cost basis.
Historical data show that this zone has frequently marked periods of market euphoria and resistance. Meanwhile, the STH cost basis band, which spans from $105K to $125K, is acting as a magnet for price action. Investors appear to be accumulating heavily within this range.
“Air-Gap” Ahead
The Realized Profit/Loss Ratio has also surged, which indicates a trend of profit-taking over loss realization. This often precedes market exhaustion but does not immediately trigger it. Moreover, Bitcoin’s composite momentum indicator, based on short-term holder cohorts, continues to trend upward, further validating near-term bullish sentiment.
Still, Glassnode cautioned that if Bitcoin breaches the lower end of the current range, the light-volume “air-gap” between $110K and $115K could become a gravity zone for price retracement.
Overall, while short-term dynamics suggest continued consolidation, the broader outlook hinges on whether Bitcoin can muster enough momentum to break above $125K. A successful breakout could spark the next leg higher toward $141K, but it WOULD also need to overcome the growing supply of investors eager to lock in profits at those elevated valuations.
