Bitcoin Resumes Advance Near $112,000 as On-Chain Data Signals Quiet Accumulation
Bitcoin (BTC) is currently trading at about $111,800, which is a good 2% gain over the previous 24 hours. This shows that the leading crypto
Quick overview
- Bitcoin is currently trading at approximately $111,800, reflecting a 2% gain over the last 24 hours despite recent volatility.
- On-chain data indicates strong institutional accumulation, with over $5.75 billion worth of BTC leaving centralized exchanges during the current correction.
- Market analyst Jordi Visser suggests Bitcoin's price movement may be part of a natural correction cycle rather than the onset of a bear market.
- The upcoming Federal Reserve chair appointment is seen as a potential catalyst for a Bitcoin rally, with predictions of prices reaching up to $200,000.
Bitcoin BTC/USD is currently trading at about $111,800, which is a good 2% gain over the previous 24 hours. This shows that the world’s largest cryptocurrency is still holding strong despite market uncertainties. Even though BTC has been very volatile lately and dropped around 11% from its all-time high of over $123,000, on-chain data shows a different story—one of ongoing institutional accumulation and smart positioning.
BTC/USD Technical Analysis: Comparing Bitcoin’s Trajectory to Nvidia’s AI-Driven Rally
Market analyst Jordi Visser has made some strong connections between the price of Bitcoin and Nvidia’s amazing performance after ChatGPT was released. “Bitcoin is part of the AI trade,” Visser says. He points out that Nvidia has gone up more than 1,000% in less than three years, but it has also had five corrections of 20% or more before reaching new all-time highs. This comparison makes it seem like Bitcoin’s current range of $110,000 to $111,800 may be part of a natural correction cycle instead of the start of a sustained bear market.
The technical setup shows that Bitcoin fell below the psychological support level of $110,000 earlier this week, causing billions of dollars to be liquidated and the worry and Greed Index to move into worry area. But this price movement happened at the same time as big outflows from exchanges, which means that smart investors are leveraging the dip to buy more.
Bitcoin’s On-Chain Metrics Reveal Hidden Strength
Even though the price is going down, Sentora’s on-chain analytics show that there is a lot of underlying strength. During the current correction, more than $5.75 billion worth of BTC left centralized exchanges, while $3.08 billion worth of Ethereum left. These numbers show that long-term investors are taking their assets off of exchanges, which is usually a bullish sign because there is less selling pressure and more conviction.
Ethereum’s exchange balances are at their lowest point since 2016, with only 14.8 million ETH left. Most of the supply is now going into staking, DeFi protocols, and cold storage. This tendency of falling exchange balances makes the supply tighter, which could make future price changes bigger.
Fed Policy as the Ultimate Catalyst for a BTC Rally
Mike Novogratz, the CEO of Galaxy Digital, says that the upcoming Federal Reserve chair appointment is Bitcoin’s “biggest bull catalyst.” He says that a “exceptionally dovish” replacement for Jerome Powell could push BTC up to $200,000. The Fed’s latest 25 basis point rate decrease in September, which was the first of 2025, has already started to make things better for riskier assets like Bitcoin.
When interest rates go down, traditional fixed-income investments become less appealing, which pushes institutional capital toward alternative assets. But if rates keep going down too quickly, it could hurt the US dollar, which would make Bitcoin an even better store of wealth in a time when currencies are losing value.
Bitcoin Price Prediction: Navigating the Path to New Highs
Bitcoin looks like it will keep being volatile in the fourth quarter of 2025, based on current technical and fundamental analysis. It could drop by 20% or more before setting new all-time highs. The next significant aim is the previous all-time high of $123,000, which is between $115,000 to $118,000.
If Bitcoin can get back on track, bulls are hoping for a possible rally toward $140,000. Bears, on the other hand, are warning of probable drops to $60,000 if the current consolidation breaks down. But the combination of robust institutional buying, falling currency balances, and good monetary policy makes it more likely that prices will go up in the medium run.
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