#BTC is consolidating in a range: strong support in the $107,500–$109,000 zone.
Immediate resistance is around $111,500–$113,000, with a bigger upside hurdle near $117,000–$118,000 according to traders.
If BTC breaks above this consolidation area (with volume), some analysts project a potential retest of $120,000+.
2. Fundamental Drivers
Institutional demand remains strong. Corporate holdings of Bitcoin are increasing steadily, which supports the long-term bullish thesis.
Macro tailwinds: There’s growing optimism around potential U.S. interest rate cuts, which is helping risk assets like Bitcoin.
On-chain accumulation: Some on-chain analytics suggest “whale” wallets are accumulating, pointing to belief in further upside.
3. Risks / Warning Signs
Technical risk: Bitcoin might be close to signaling a “death cross” (50-day MA crossing below 200-day MA), which could trigger a deeper pullback.
If support around $108K breaks decisively, analysts warn BTC could drop toward $100K–$105K, or even lower in a more aggressive correction.
