Bitcoin is edging closer to new highs, and signs across the board suggest it may not be long before it smashes through its previous record.
The market’s recent momentum is backed by aggressive accumulation and a sharp drop in BTC held on exchanges — both classic signs of brewing upward pressure.
On-chain data reveals that over 100,000 BTC has quietly exited trading platforms in recent weeks.
The dwindling exchange supply reflects a growing preference among investors to hold rather than sell, reinforcing Bitcoin’s scarcity narrative at a time when price is flirting with its historical peak.
Meanwhile, technical patterns point toward further upside. Analysts are watching a recurring market structure — known as the “Power of Three” — which hints at a potential breakout above $112,000. That pattern, along with bullish momentum signals like a weekly MACD crossover, adds fuel to an already energetic rally.
If Bitcoin clears the $105K level, it could trigger a wave of liquidations in short positions, potentially accelerating gains. With confidence rising and supply thinning, the stage appears set for Bitcoin’s next leap into price discovery.
Michael Saylor, executive chairman of Strategy, has revealed that the company has acquired an additional 21,021 Bitcoin for approximately $2.46 billion, paying an average price of $117,256 per BTC.
As Bitcoin continues to consolidate above $100K, a critical market signal is flashing: BTC funding rates remain elevated, even as price action cools.
Billionaire investor Ray Dalio, founder of Bridgewater Associates, has suggested that a balanced investment portfolio should include up to 15% allocation to gold or Bitcoin, though he remains personally more inclined toward the traditional asset.
With Bitcoin hovering near $119,000, traders are weighing their next move carefully. The question dominating the market now is simple: Buy the dip or wait for a cleaner setup?