Bitcoin Defies Gravity: $108K Floor Sets Stage for Potential Parabolic Rally

Digital gold isn’t just holding—it’s taunting the bears. With Bitcoin’s iron grip above $108,000, the market’s holding its breath for what comes next.

The breakout playbook: When BTC consolidates at these levels, history shows the explosions tend to be vertical. Traders are eyeing derivatives data like hawks while institutional FOMO simmers quietly (and Wall Street still pretends they ’discovered’ crypto).

One hedge fund manager sniffed, ’It’s overbought’—right before the last 40% leg up. The lesson? In crypto, traditional finance logic cuts about as well as a butter knife at a gunfight.

• Bitcoin is stable at over $108,000, looking to overcome the all-time high of $112,000.
• Traders are positioned for 27% average profit; 40% frequently foretells near-future sell-offs.
• BTC may clear $111,800 to target $113,000 and possibly surge toward $115,000.

Bitcoin continues to show resilience above the $108,000 level, signaling the potential for a breakout above its all-time high of about $112,000. The price action remains distinctly bullish, with minimal signs of weakening across major timeframes. After a steady consolidation phase, BTC looks ready to surge into uncharted territory.

Bitcoin traders are currently sitting on an average profit of 27%, according to a recent analysis by market expert Ali (@ali_charts). Ali highlighted that Bitcoin markets have historically shown signs of topping out when trader profits surpass 40%. Over the past four years, short-term holders often started heavy selling at that level, causing price pullbacks.

Short-Term Holders Trigger Sell-Offs

Renowned analyst Axel Adler also posted insight on-chain statistics from CryptoQuant that outlined Bitcoin’s present market posture. The Short-Term Holders’ Net Unrealized Profit/Loss is 27%, a critical one that usually signals profit-taking when it crosses 40%, typically triggering sell-offs and transient tops in prices.

Adler’s projection, assuming a daily steady rise of 0.818 percentage points, estimates the 40% NUPL threshold will be reached around June 11, 2025. If the trend holds, BTC may reach nearly $162,000 by that time.

However, Adler cautions that the projection is a straight-line extrapolation and does not include unexpected market shocks, “black swan” occurrences, or pivotal political events, such as policy announcements or viral statements by Donald Trump, the US President, which might affect prices.

Bitcoin Rebounds Above $108,000 Resistance

Bitcoin rebounded from the support at the level of $107,400 and passed the resistance levels of $108,000 and $108,500, even briefly crossing above the $110,000 level. However, selling pressure emerged NEAR $110,750, triggering a short-term pullback below $110,000.

BTC dipped under the 50% Fibonacci retracement level from the $107,600 swing low to the $110,742 high but stabilized above $108,000 and the 100-hour simple moving average. A bullish trend line is forming with support near $108,800 on the hourly chart.

On the upside, the immediate resistance is at $110,000, with crucial barriers at $110,750 and then $111,800. Passing $111,800 will send bitcoin towards $113,000, with the further upswing targeting $115,000. 

Read More: Bitcoin’s 99% Profit Threshold: Is the Market Heading Toward a Correction?