Overview

• An on-chain shift of 7,626 BTC aged three to five years was reported by analyst Maartunn, signaling renewed distribution from long-term holders toward institutional channels.
• BTC is trading near $112,000 after a rebound from the $109,000–$110,000 area, with the 50-, 100- and 200-day moving averages clustered around $111,000–$115,000 creating resistance.
• Analysts say a daily close above $114,000 is needed to confirm a sustained uptrend, with BitBull warning that rebounds remain vulnerable to bull traps until that level is reclaimed.
• Support levels to watch include $108,000 and around $105,000, and Mags cautions that a break below $108,000 could lead to a slide below $100,000.
• Market participants credit spot ETF inflows with absorbing some selling pressure, leaving Bitcoin roughly 9%–11% below its $124,500 all-time high.