Bitcoin Price Rise To $120,000 Ahead As Seller Exhaustion Paints Bullish Picture
Bitcoin’s price action shows signs of recovery as seller exhaustion cools selling pressure. A breakout above $117,261 could send BTC to $120,000.
Bitcoin has been pushing past $115,000 in an attempt to recover from recent weakness. The crypto king is currently testing this level as support while trying to break out of a two-month downtrend.
Positive on-chain signals hint at seller exhaustion, which may support the next leg higher.
Bitcoin Is Showing Signs Of Potential Recovery
The Short-Term Holder Realized Value to Transaction Volume (STH RVT) ratio has compressed toward cycle lows. This shows realized profits remain muted compared to Bitcoin’s network valuation. Historically, these resets often occur during periods of market detox, laying the groundwork for healthier, longer-lasting price recoveries.
Such patterns suggest investor activity has cooled, reducing the intensity of speculative trading. When realized profits fall, it often indicates that market participants are waiting for more favorable conditions.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
Bitcoin STH RVT. Source:
Glassnode
Macro signals also align with this narrative. Glassnode data shows the Realized Profit/Loss Ratio has dropped from 2.2 to 1.0, reaching the lower band. This adjustment supports the RVT reset, signaling a balance between realized profits and realized losses in Bitcoin’s current trading environment.
With profit-taking and losses now more evenly matched, Bitcoin appears to be entering a neutral phase. Historically, such an equilibrium hints at seller exhaustion, where selling pressure fades, and buyers begin regaining control.
Bitcoin Realized Profit/Loss Ratio. Source:
Glassnode
BTC Price May Breakout Soon
Bitcoin is trading at $115,151, attempting to hold $115,000 as a new support level. Securing this area is vital as the cryptocurrency also works to break out of the two-month downtrend that has capped its upward momentum since midsummer.
If conditions improve, Bitcoin could rally beyond $116,096 and approach $117,261. Breaching this level would open the door to $120,000. This would reinforce optimism among traders and institutions anticipating further growth in the crypto king’s valuation.
Bitcoin Price Analysis. Source:
TradingView
However, failure to maintain current levels would invalidate the bullish outlook. Bitcoin could fall back to $112,500 or even $110,000, extending the bear run. Such a move would dampen sentiment, signaling renewed vulnerability in the world’s largest cryptocurrency.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Wall Street giants collectively raise rate hike forecasts, US Treasury futures continue to fall, gold drops over 1% to break 4000
After the US October CPI exceeded expectations, Goldman Sachs and Nomura added a forecast for an interest rate hike in March next year, while Deutsche Bank included a forecast for a rate hike in January next year. Currently, the market has fully priced in a 25 basis point rate hike in December, with a 13% probability for a 50 basis point hike. On Wednesday, the US Treasury spot market was closed, but Treasury futures continued to fall, with corresponding yields rising by about 2 to 4 basis points, and spot gold came under pressure, dropping by 1.1%.
No Need to Worry About the Cooling Down of AI Data Center Construction? The US Import Boom Is Unlikely to Subside in the Short Term, Real Impact May Come in 2029
It takes an average of 4.8 years from finalizing investment to starting construction of a data center project, and an additional 2.6 years from construction start to becoming operational. Servers usually cannot be installed until after the building structure and racks are completed. For trade partners such as Taiwan (China), South Korea, and Mexico who rely on US data center supply chain demand, the inertia in construction timelines provides at least a one- to two-year buffer for future exports.
Federal Reserve Major Debate: When Should the Tenure of “Number Three” Williams End?
The main point of contention is whether Williams should step down in June 2028, upon completing a full 10-year term, or in June 2027, when he reaches the mandatory retirement age of 65. Analysts point out that the Federal Reserve Board holds ultimate discretion; if he leaves early, Fed Chair Waller would be able to assert greater control over the appointment to this critical position. However, forcing Williams to shorten his term could easily be interpreted as political manipulation. Williams himself is expected to serve until June 2028.
Sunshine Silver weighs doubling mill capacity
Crypto prices
More
