Bitcoin continues to hold above $112K, supported by significant accumulation from long-term holders and institutional inflows. The market remains focused on the $117K resistance level.
Support at $112K
On-chain data from Glassnode shows that nearly 120,000 BTC have accumulated between $112K and $114K, forming a strong safety net for the market. If the $112K level fails, there is little on-chain support until $108K.
Record Accumulation
Coinvo data shows that accumulator addresses have purchased over 100,000 BTC in the past 30 days, marking the largest on record. This wave of demand has been rising since early 2024 and peaked in mid-2025. Much of this activity is linked to US spot ETF inflows, reflecting strong institutional interest.
Resistance at $117K
Bitcoin has been tracking within a descending channel since mid-July, with the upper boundary near $117K repeatedly rejecting price advances. A breakout above this level could target $118K and beyond, while losing $112K may lead to a focus on the $108K zone.
Currently, Bitcoin shows resilience at $112K and $114K levels, with increasing institutional demand providing a solid foundation for potential future growth.
