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Bitcoin Hits $100K: Is $110K Within Reach?

Bitcoin (BTC) has reached a major milestone, surpassing $100,000 for the first time and pushing its market cap to $2 trillion. This achievement makes BTC more valuable than Saudi Aramco and puts it close to Alphabet in market cap rankings. With strong bullish momentum, Bitcoin’s price trend appears poised for further gains.

Bitcoin’s Bullish Trend Strengthens

Key metrics signal that Bitcoin’s bullish trend is gaining traction:

  • ADX Trend Analysis: Bitcoin’s ADX (Average Directional Index) has jumped to 24.4, up from 15 in a day. This indicates a strengthening trend, as values above 25 typically reflect a strong market trend.
  • Directional Movement: BTC’s D+ sits at 31.2, while D- is at 9.8, showing that buyers are firmly in control.

Although Bitcoin’s current ADX is below the peak of 40 seen during its $90K rally, momentum is building. If this trend persists, BTC could climb even higher.

Bitcoin NUPL Indicates More Growth Potential

The Net Unrealized Profit/Loss (NUPL) metric offers insights into market sentiment:

  • BTC’s NUPL is currently 0.62, down slightly from 0.63 but still within the “Belief—Denial” phase. This range signals growing optimism without reaching overconfidence.
  • Historically, NUPL values of 0.7 or higher—the “Euphoria” zone—align with price corrections. Since BTC hasn’t reached that level, it suggests room for continued price growth.

BTC Price Outlook: $110K By December?

Bitcoin’s EMA (Exponential Moving Average) lines show a strongly bullish configuration. Short-term EMA lines are above long-term ones, with BTC trading above all of them.

  • If Bitcoin sustains its momentum while NUPL stays below the euphoria zone, the price could test $110,000, just 7% away from current levels.
  • However, a retest of $99,000 support is possible before further upward movement. Failure to hold this support could result in a drop to $90,000 before Bitcoin resumes its rally.

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Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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