🚀 Bitcoin Defies Gravity at $112K: 96% of Supply in Profit as $130K Breakout Looms

Bitcoin isn't just holding—it's flexing. With 96% of its supply now in profit, the king of crypto scoffs at 'overbought' warnings and eyes a blistering $130K surge.

The Support That Wasn't Supposed to Hold

Traders gnawed their nails as BTC tested $112K—then laughed all the way to the ledger when it bounced like a trampoline. This isn't stability. It's a market screaming 'try me.'

Profit Tsunami Meets Institutional FOMO

Nearly every satoshi holder is swimming in green, yet the whales keep buying. Wall Street's latecomers? They're overpaying for custody solutions while OG stackers nap on hardware wallets.

The Cynic's Corner

Meanwhile, traditional finance still thinks 'blockchain, not Bitcoin' is a viable strategy—like building the internet but banning websites. $130K isn't a target. It's a pit stop.

• Bitcoin retests the $112,000–$115,000 zone, viewed by traders as a critical “reload area” before a potential move toward $130K.
• 96% of the BTC supply is currently in profit, highlighting strong market sentiment but raising caution over possible profit-taking.
• Technical consolidation at $114K is considered healthy by analysts, potentially setting the stage for a breakout.

Bitcoin is in an important retest phase after a clear breakout above the $112,000 barrier. At the time of writing, BTC is trading at $114,069. The BTC price has decreased by 3.14% in the last 24 hours, with the area already emerging as a significant launchpad for the journey toward the highly anticipated $130K barrier.

Bitcoin Stabilizes Above $112,500, Eyes New Upswing

According to popular crypto trader Merlijn, a chart he shared on August 1 indicated the $112,500 level as a “reload zone” for bulls, a structurally significant area of support that could serve as the foundation for the next major leg higher.

“It’s not hype, it’s formation,” noted Merlijn, pointing out the technical significance of the current range. “The crowd usually gets in at resistance, not before,” he added, pointing out that the current zone of resistance is normally favored by knowledgeable investors.

According to him, it is “where legends accumulate,” the ideal time for forward-thinking players in the markets to be prepared for a larger breakout.

Sentiment is strongly bullish, with technical indicators and price structure pointing toward continued upward movement. Analysts note the current consolidation at the $114K area is healthy and WOULD facilitate a more long-term breakout once the market can absorb current prices.

Bitcoin Profitability at 96%, But Caution Remains

Fueling the bullish narrative, on-chain data published by analytics firm Glassnode indicates that an eye-popping 96% of all of the circulating supply of Bitcoin is profitable currently. With their highly followed “Percent Supply in Profit” oscillator, it has remained above the 90% threshold for over four weeks, a pattern that occurred at euphoric moments of prior bull markets.

However, Glassnode issued a note of caution. High profitability across the board can eventually create pressure to realize gains. “When nearly all holders sit on gains, pressure to realize profits builds,” the company elucidated, using the 91% threshold as statistically significant. A sustained decline below that threshold could signal some general reset or correction in the market.

Regardless of the potential for selling pressure, Bitcoin’s action currently appears rock solid. With the fact that once more, we’re not seeing large-scale sell-offs, even though nearly all the supply is in profit, long-term holders may be patient with eyes on higher targets.

Bitcoin’s on-chain fundamentals and technical structure are at a pivotal juncture. With bulls defending the $112K–$115K zone and long-term capital showing conviction, momentum might be gaining for the next explosive move. If the markets keep going on this consolidation without substantial profit-taking, the MOVE towards $130K might be closer than most think.

Since technical and on-chain metrics are being closely monitored by analysts simultaneously, this retest phase can be the beginning of Bitcoin’s next rally, driven not by HYPE but by strengthening market infrastructure.