{"id":16159,"date":"2025-08-31T12:10:13","date_gmt":"2025-08-31T11:10:13","guid":{"rendered":"https:\/\/investx.fr\/en\/?p=16159"},"modified":"2025-08-31T12:10:14","modified_gmt":"2025-08-31T11:10:14","slug":"bitcoin-poised-to-break-120000-dollars-again","status":"publish","type":"post","link":"https:\/\/investx.fr\/en\/crypto-news\/bitcoin-poised-to-break-120000-dollars-again\/","title":{"rendered":"Is Bitcoin Poised to Break $120,000 Again?"},"content":{"rendered":"\n

Bitcoin: Key Bounce and Critical Support<\/h2>\n\n\n\n

JPMorgan’s undervaluation thesis aligns with the on-chain improvements and technical resilience<\/strong> of Bitcoin<\/a>. The MVRV ratio stands at 2.1, well below the overheated levels near 4. Simultaneously, exchange<\/a> reserves continue to decrease<\/strong> while ETF inflows remain stable, reflecting structural demand.<\/p>\n\n\n\n

Bitcoin<\/a> is currently trading around $108,450<\/strong>, bouncing from the Fibonacci retracement<\/strong> at $104,700<\/strong>, a zone historically considered a strong support<\/strong>. Maintaining this level could pave the way for gains toward $112,000<\/strong> and $120,000-$123,000<\/strong>.<\/p>\n\n\n\n

Moreover, the Relative Strength Index (RSI) sits near 37<\/strong>, indicating weakening bearish pressure<\/strong> and conditions approaching the oversold zone. However, failure to hold $104,000<\/strong> could trigger a correction<\/strong> with $100,000<\/strong> as the next key defensive line<\/strong>. Thus, the $104,000-$108,000 price range<\/strong> will dictate Bitcoin’s short-term trajectory.<\/p>\n\n\n\n

\"BTC<\/figure>\n\n\n\n

Market Stabilization Ahead?<\/h2>\n\n\n\n

Derivatives data show cooling futures contract volumes, signaling a decline in speculative activity<\/strong>. A reduction in leverage often precedes market<\/a> stabilization<\/strong>, favoring sustainable rallies. Institutional investors tend to accumulate during these periods, prioritizing efficiency over volatility<\/strong>.<\/p>\n\n\n

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\"bitcoin
Source: CryptoQuant<\/figcaption><\/figure>\n<\/div>\n\n\n

Additionally, the decline in the Network Value to Transactions (NVT) ratio<\/strong> by over 23%<\/strong> to 23.7<\/strong> indicates an improvement in the value transferred through the network relative to its market capitalization, which historically supports more sustainable price growth<\/strong>.<\/p>\n\n\n\n

Bitcoin’s positive outlook<\/strong> is supported by the alignment of JPMorgan’s undervaluation thesis with on-chain improvements and technical resilience. If the retracement level at $104,700<\/strong> continues to act as solid support, the path toward $112,000<\/strong> and $120,000-$123,000<\/strong> remains achievable.<\/p>\n\n\n\n

The cooling in futures contract activity and the decreasing NVT ratio provide additional reasons for optimism about the recovery potential<\/strong> of the leading cryptocurrency. The key question now is whether Bitcoin can reclaim $120,000<\/strong> in the coming weeks.<\/p>\n\n\n

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\"NTV
Source: CryptoQuant<\/figcaption><\/figure>\n<\/div>\n\n\n
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Buy BTC on Bitget and get $20 instantly!<\/a><\/div>\n<\/div>\n\n\n\n

Related topics:<\/strong><\/p>\n\n\n\n