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Bitcoin climbed to around $116,000 on Monday, marking a 4% gain in 24 hours as on-chain data showed approximately 84% of the circulating supply now held in profit—a metric analysts associate with sustained upward momentum.
The recovery comes as daily trading volume surged 140% to $54.45 billion and derivatives open interest spiked, suggesting traders expect continued price action rather than a quick reversal.
“The current market behavior shows holders are confident and unwilling to sell prematurely, which typically precedes sustained growth,” said CryptoQuant analyst Darkfost.
With support holding firmly near $112,000 and a breakthrough above $118,500 in sight, Bitcoin is positioned to retest recent highs near $126,000, in line with growing market activity and optimistic technical indicators.
Bitcoin price prediction remains positive as it is currently trading at approximately $116,030, up 4% in the last 24 hours and more than 5% for both the week and month. Although about 8% shy of its October 6 peak of $126,080, recent volume data points to heightened trader interest.
Daily trading volume soared 140% to $54.45 billion, while derivatives markets saw open interest and futures volume spike sharply, reflecting the expectation of sustained price action rather than quick liquidation.
“Increased derivatives volume and open interest suggest that traders are preparing for a directional move rather than exiting positions,” noted market strategist Arab Chain.
According to Darkfost, about 83.6% of the Bitcoin supply is now in profit, a range historically linked to sustained upward price moves as holders show reluctance to sell. This contrasts with markets overheating above 95% profit supply, which often precedes corrections.
The return toward mid-80% ranges signals a healthy bullish sentiment, while caution remains prudent. “When the supply in profit crosses 95%, that’s usually a warning sign of an overheated market,” Darkfost cautioned. These insights strongly support the ongoing Bitcoin price prediction.
Binance recorded inflows of approximately 185,000 BTC in October, with whales accounting for nearly 25% of this, the highest since July. Instead of selling, whales appear to be repositioning in anticipation of further momentum, a bullish sign noted in the Bitcoin price prediction.
“Whale activity reflects calculated moves, likely positioning for the next upward trend rather than capitulation,” Arab Chain added.
Key technical indicators support the bullish thesis. Bitcoin’s relative strength index sits neutral in the mid-50s, allowing ample room for upward moves. Momentum and MACD indicators also lean bullish, with prices trading above critical short- and long-term moving averages.
Support at $112,000 continues to hold, reinforcing market structure, while a decisive move beyond $118,500 could drive prices toward the $126,000 mark, consistent with the strong Bitcoin price prediction outlook.
This comprehensive analysis of Bitcoin’s market dynamics underscores an improving price outlook, fueled by strong holder conviction, active trading, and technical indicators suggesting a bullish advance.
Investors should watch supply in profit metrics and resistance near $118,500 as key signals for trend continuation or pullback in the Bitcoin price prediction.
