Bitcoin Must Defend This Key Support For $180,000 Year-End Target, Analyst Says

by Norberto Parisian

As Bitcoin (BTC) consolidates conclude to the $119,000 mark following a recent all-time excessive (ATH) above $123,000 final week, several on-chain indicators are presenting a blended image regarding the cryptocurrency’s subsequent major disappear.

Bitcoin On-Chain Data Reveals Blended Outlook

In maintaining with a CryptoQuant Quicktake put up by contributor Chairman Lee, BTC exchange reserves have risen noticeably since unimaginative June. This appealing uptick suggests elevated profit-taking process, which might perhaps well perhaps also weigh on BTC in the quick.

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Tremendous holders and miners have furthermore been ramping up their deposits since July 18. On the opposite hand, overall inflows to centralized exchanges dwell quite low when put next with the ranges noticed all over major market tops earlier this year.

Meanwhile, the Unspent Transaction Output (UTXO) count continues to claim no – a pattern often interpreted as a signal of long-term accumulation. Traders appear to be consolidating their money, reducing appealing transactions and indicating solid conviction in Bitcoin’s long-term capability.

For context, a declining UTXO count typically reflects decreased quick promoting strain as holders disappear BTC into fewer wallets quite than shopping and selling them. This habits is every so often connected to an overall bullish market outlook.

Chairman Lee furthermore pointed out that institutional and exchange-traded fund (ETF) flows dwell robust. three hundred and sixty five days-to-date (YTD), nearly $50 billion has flowed into Bitcoin investment merchandise despite quick pauses attributable to learn-taking.

Data from SoSoValue reveals that US-listed space BTC ETFs have recorded four consecutive months of definite inflows, with greater than $18 billion added since April 2025. Equally, total rep resources held by these ETFs now exceed $151.6 billion.

Can BTC Quiet Glimpse $180,000 Aim?

From a technical standpoint, Chairman Lee highlighted the $116,400 space as the rapid help zone. The analyst remarked:

A breakdown under this level also can lengthen the correction towards $112K–$110K. On the upside, conserving above $116K retains the structure intact for one other push towards $124K–$130K.

The analyst emphasized that so long as Bitcoin defends the $110,000 level, the broader bullish pattern will dwell intact. Moreover, if ETF and institutional inflows kind additional momentum, BTC also can gentle attain the valorous year-discontinue purpose of $180,000.

That acknowledged, some cautionary signs are beginning to emerge. On-chain information indicates that long-term holders are accelerating distribution, while quick investors are entering the market in hopes of benefitting from additional upside – habits that has historically preceded local tops.

On the opposite, the Bitcoin quick holder Market Value to Realized Value (MVRV) suggests that there can must gentle be room for additional insist in BTC’s tag. At press time, BTC trades at $119,241, up 0.9% prior to now 24 hours.

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Featured image from Unsplash, charts from CryptoQuant and TradingView.com

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