Overview
- Bitcoin has stabilized above its $118,000 support level and is targeting a breakout toward $127,000–$132,000.
- Glassnode’s MVRV bands suggest the +1.0σ deviation near $130,000 as the next key resistance if Bitcoin sustains its current support zone.
- The global M2 money supply reaching an all-time high has injected excess liquidity into markets, underpinning renewed appetite for crypto assets.
- News of postponed U.S.-China tariffs has eased market nerves and helped Bitcoin reclaim key moving averages after recent institutional liquidations.
- Analysts from Bitwise and Blockware say macro forces are overtaking halving cycles in driving Bitcoin’s growth, with long-term price forecasts ranging from $200,000 by 2025 to $1 million over the next decade.