Bitcoin is creeping upward again, but don’t mistake this for a roaring rally. The cryptocurrency briefly touched $106,000 earlier today before settling at $105,383, up just 0.8% in the last 24 hours. It’s a modest uptick, nothing explosive, but analysts are keeping a close eye on the underlying signals to gauge where things might head next.
The market isn’t showing extreme signs of panic or profit-taking, which could be a good thing. According to CryptoQuant analyst Darkfost, realized profits haven’t spiked past $1 billion on a seven-day moving average. That’s in line with late 2024’s correction phase and nowhere near the peaks seen in early 2025. Basically, large-scale investors aren’t rushing for the exits—yet.
But here’s the catch. Demand isn’t exactly booming either. Darkfost’s analysis points to a gradual decline since Bitcoin’s May highs. The ratio of new supply to long-held inactive supply suggests buyers aren’t stepping in with enough force to push prices significantly higher. The market is absorbing selling pressure just fine, but fresh buying enthusiasm? MIA.
This leaves Bitcoin in a strange limbo—what traders call a temporary equilibrium. With neither bulls nor bears making big moves, prices are stuck in a hovering pattern.
And speaking of hovering, let’s talk about that $100,000 to $110,000 range. Bitcoin has been bouncing within those walls for weeks now, and analyst BorisVest notes that positions are stacking up on both sides. Longs and shorts are accumulating, waiting for a breakout—or breakdown—to decide the next big move.
Interestingly, short positions are on the rise. More traders are betting on a drop below $100K. But here’s the twist: when shorts pile up too much, the risk of a short squeeze spikes. A sudden upward surge could force these bearish bets to unwind, sending prices higher in a hurry.
For now, funding rates remain balanced, suggesting neither side has a clear edge. It’s a stalemate—until it isn’t.
The question is simple. Will buyers step up to break the $110,000 ceiling, or will sellers force a retreat below $100,000? Until then, Bitcoin’s stuck in a waiting game.