Bitcoin Charges Toward $120K as Exchange Inflows and Leverage Spike

Whale alert: Bitcoin’s gearing up for a moonshot as exchange wallets swell and traders pile on leverage. The $120,000 price target isn’t just hopium anymore—it’s flashing on the radar.

Exchange flows scream accumulation phase. When coins move off exchanges, it’s HODL mode. When they flood back in? Someone’s prepping liquidity for big moves. Add surging leverage ratios, and you’ve got a powder keg with a lit fuse.

Wall Street’s still trying to short crypto with paper gold while degens print life-changing money. The irony’s thicker than a Bitcoin maximalist’s tweetstorm.

Trading activity heating up

Exchange behavior confirms the trend, with roughly 33% of all Bitcoin volume now flowing through centralized exchanges, up from earlier in the year. 

The average profit on coins deposited into exchanges is $9,300, while the average loss is just $780, resulting in a 12:1 profit-to-loss ratio that mirrors prior bull cycles.

Leverage is also building. Futures open interest has climbed from $36.8 billion to $55.6 billion (+51%) since April, while options open interest surged to an all-time high of $46.2 billion, up $25.8 billion. 

Spot bitcoin exchange-traded funds (ETFs) continue to draw inflows above $300 million daily, providing additional buy-side momentum.

Not exhausted

Technically, Bitcoin trades well above the 111-day moving average at $91,800, the 200-day moving average at $94,300, and the short-term holder cost basis at $95,900, reinforcing bullish momentum. 

On-chain pricing models place key resistance between $120,300 and $135,700. Historically, this range has encompassed only 17.5% of Bitcoin’s trading history, often serving as the upper limit during periods of euphoria.

The report concluded that the market is heating up but has not yet reached exhaustion. If momentum continues, the next test may occur at the $120,000 zone, provided investor demand can absorb rising profit-taking pressure.