The data suggests that Bitcoin traders are currently looking to accumulate between $100,000-$200,000.

The key takeaways

•  Bitcoin’s monthly outflow/inflow has fallen to 0.9. It signals renewed long-term trust and accumulation.

• BTC remains in a narrow range, between $100 and $110,000.

• More than 19,400 BTC have been moved to institutional wallets. This indicates that long-term investors are strategically positioning themselves.

Bitcoin (Bitcoin) has now surpassed the $100,000 mark.BTCPrice has closed each day over the psychological level. BTC’s range deviance dropped to $98,300 in June 22. However, the crypto-asset is still close to its new highs of $111 800. 

One metric suggests that BTC’s price could drop as low as $100,000 before it enters a new parabolic phase in 2025. 

CryptoQuant data indicated Onchain data shows a clear dominance of inflows and outflows. The monthly outflow/inflow ratio has fallen to 0.9, a level not seen since the end of the bear market in 2022 and one that historically signals strong demand.

This ratio is used to gauge sentiment. It measures the amount of coins that are being moved out and in. The reading of a ratio below 1 indicates that the investors have moved assets from the exchanges. The values over 1.05 corresponded to increased selling pressure in the past and local market tops.

The latest decline is similar to that seen back in December 2022. Bitcoin has reached its macro-bottom near $16,500. This inflection mark preceded an extended multimonth rally. It supports the theory that a low price ratio is often a precursor to a price change.

A structural bottom is likely to form if the current outflows are dominant and long-term holders participate more. If past patterns are repeated, Bitcoin could be nearing a pivotal demand-driven point that will mark its next bullish phase.

Related: Bitcoin news update: BTC range tightening hints at price break to new highs

Bitcoin absorbs the pressure of short sellers

Despite sustained sell-side aggression on Binance derivatives over the past 45 days, Bitcoin has held its ground within a tight $100,000–$110,000 range. Cumulative Volume Delta (CVD) data remains Negative, indicating consistent pressure on short sellers from the takers. But the fact that the price cannot break below the current level suggests the flow of money is being absorbed.

The onchain movement that points towards institutional change may strengthen this structure resilience. As observed Maartunn is a crypto analyst who has noted that on Tuesday, more than 19,400 BTC valued at approximately $2.11 billion were transferred from inactive wallets to institutional addresses. The coins were previously dormant for between three and seven years. This highlights the importance of this move.

These transfers tend to be planned. These activities tend to be associated with positioning strategies, which suggests that larger entities could step in if the price remains stable despite visible pressures.

Bitcoin’s persistent selling, the muted reaction to the downside, and massive accumulation all support this argument. Although short-term volatility is likely to persist, the bid at this level, which could be institutional in nature, makes a sudden correction down below $100,000 less likely.

Related: Bitcoin price gained 72% and 84% the last two times BTC holders did this

This article contains no investment recommendations or advice. Each investment or trading decision involves some risk. Readers should do their own research before making any decisions.