Key control:
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Bitcoin could test the $ 111,000– $ 113,000 area, reflecting the rupture structure seen in the second quarter.
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The URPD metric shows 5.5% of BTC Supply grouped between $ 110,000 and $ 113,000.
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Fresh medium -sized headlines absorbed the distribution of whales of 715,000 BTC.
Bitcoin (BTC) has recovered almost 6% in September, challenging its bearish seasonality. After a solid weekly performance, the asset exceeded an important supply zone between $ 115,600 and $ 117,300. A decisive closure above $ 117,300 would indicate a potential impulse towards new maximums.
With the next meeting of the Federal Open Market Committee (FOMC) and the expectations of interest rate cuts on Wednesday, Bitcoin is experiencing a slight correction on Monday, immersing below $ 114,500. The analysis suggests that this fall could present a favorable purchase opportunity.
From a technical perspective, the critical reestima zone is between $ 111,000 and $ 113,000. This reflects the structure observed in Q2. In June, BTC recovered at least $ 100,000 to $ 109,000, consolidating just below the $ 110,000 resistance.
After an initial rejection, the market absorbed the liquidity about $ 105,000 before reaching new maximums in July above $ 120,000.
A similar pattern seems to be developing now. If the current upward trend remains intact, Bitcoin must have the range of $ 111,000 – $ 113,000. A deviation below this level would weaken the upward case, while the stability here could confirm another structural rupture.
The relative force index (RSI) is also aligned with this opinion, has recovered the level of 50 and now proves it as support. Historically, this configuration has preceded the renewed impulse of purchase, as presented in June.
The cryptographic analyst ShayanbTC said the miner’s behavior is reinforcing constructive perspectives,
“The combination of a technical structure change and the accumulation of miners provides a constructive perspective. As long as $ 112K is maintained, Bitcoin seems to be well positioned to maintain the impulse.”
Related: Bitcoin Daily Dip Hits 2% as the BTC ‘Classical’ price action precedes FOMC
Bitcoin “Fresco” investors have arrived, says the analyst
One of the reasons why the $ 113,000 zone could be a technical support is the URPD metric (distribution of prices made of UTXO), which assigns the distribution of the supply of Bitcoin for purchase price. According to recent data, a 5.5% meaning of the BTC supply has changed to $ 110,000, $ 113,000, highlighting this band as one of the most actively accumulated ranges in recent weeks.
In other words, a substantial base of the headlines has been placed here, which suggests the conviction that the level represents a long -term value.
This accumulation trend is reinforced by the behavior of wallet cohorts. Since July 2024, shark wallets (with 100-1,000 BTC) have added almost 1 million BTC, increasing their collective balance to 5,939 million BTC. The constant increase indicates the entry of fresh medium players from exposure to the building.
Bitcoin Axel Adler JR researcher added that at the same time, the distribution of larger cohorts has been remarkable. Whale wallets (1,000-10,000 BTC) have reduced holdings by 324,000 BTC since March 2024, while backbacks (≥10,000 BTC) reduced their balance in 391,000 BTC.
In total, approximately 715,000 BTC have been released to the market since last year’s peaks.
Crucially, this supply has been absorbed, largely by smaller and newer participants, a structural change that emphasizes why the level of $ 113,000 could mark one of the last significant “discounts” before renewing upwards.
Related: Merchants say that Bitcoin’s ‘Alcista’ weekly closure is a route for $ 120k BTC Price
This article does not contain advice or investment recommendations. Each investment and trade movement implies risk, and readers must carry out their own investigation by making a decision.
