Overview

• Bitcoin is consolidating around $115k–$116k and has repeatedly failed to secure a daily close above $116,000, with $117k–$118k flagged as the near-term make-or-break zone.
• On-chain activity hit a 2025 peak, with the 14-day average of transactions rising to roughly 540,000, signaling firm underlying network demand.
• BlackRock’s IBIT spot ETF logged about $3.1 billion of inflows over the past 10 trading days, including $246 million on Friday, reinforcing spot-side support.
• Derivatives indicators skew bearish, with a low Futures Pressure Index and sub‑1.0 taker buy/sell ratio, even as spot markets show positive delta and continued exchange outflows.
• Whale wallets have sold or transferred roughly $4 billion in BTC in recent weeks, keeping volatility elevated as traders watch support around $114.5k–$113.3k and eye a potential push toward $120k if resistance clears.