🟡Bitcoin recovered to $112,800 after briefly dipping below $108,800, supported by gains in the S&P 500 and strong earnings from Nvidia. However, according to Glassnode, the asset is trading below the cost basis of short-term holders, increasing pressure as some investors may choose to cut losses on any price rebound.
🟡Analysts note that a breakout above $112,400 with strong volume could pave the way toward $114,000–$116,000, while a drop below $107,000 would be a worrying signal. Institutional funds continue accumulating Bitcoin, sustaining long-term demand, but further movement will depend on how key support and resistance levels play out.
