FameEX Hot Topics | $130K Target in Sight for Bitcoin Before Heavy Profit Realization

Bitcoin climbed to $117,500 on Thursday, fueled by a strong uptick in demand from accumulation addresses. Data from CryptoQuant shows these wallets held a total of 248,000 BTC as of Wednesday, marking the highest level of accumulation so far this year. Over the past 30 days, demand from these addresses has surged by 71%, rising from 148,000 BTC since June 22. This sharp increase signals that investor confidence is not only intact but strengthening, even as prices reach higher levels.

This level of sustained accumulation hasn't been seen since December 20, when Bitcoin was trading at $97,000 and accumulation addresses hit a record high of 278,000 BTC. What’s notable is that similar behavior is now occurring at significantly higher prices. It demonstrates that long-term holders are maintaining their conviction, suggesting a structural bullish outlook for Bitcoin is continuing to build.

Momentum in Bitcoin demand has sharply rebounded, recovering from the lows observed in the fourth quarter of 2024. While the overall cumulative demand—which includes both buyers and sellers—remains negative, the recent bounce points to increasing buyer control. This shift hints at a solid foundation forming beneath Bitcoin’s price, as investors continue to accumulate through periods of short-term volatility.

Analysts are now watching closely for levels where profit-taking could begin. Axel Adler Jr. identified the MVRV (Market Value to Realized Value) ratio as a reliable historical signal. When the MVRV reaches 2.75, it has often marked the beginning of broader distribution. Based on current metrics, this would correspond to a Bitcoin price of roughly $130,900, about 13% above current levels—indicating room for continued growth.

Other data also supports this optimistic outlook. Glassnode highlighted a $4.4 billion rise in Bitcoin’s realized cap as BTC crossed $113,000, suggesting meaningful capital inflows. Meanwhile, Milk Road co-founder Kyle Reidhead referenced a bullish technical pattern and posted “See you at $150K” on X, reinforcing a sentiment that Bitcoin's rally may have much further to go.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.