‘A Promising Entry Point’: CryptoQuant CEO Highlights Bitcoin’s Bullish Potential Amid Easing Selling Pressure
Bitcoin has been hovering just above the $100,000 threshold in recent days, attempting to stabilize after a period of volatility. According to Ki Young Ju, CEO of on-chain analytics firm CryptoQuant, this consolidation phase could present a favorable buying opportunity—provided certain market conditions align.
Ju emphasized that while Bitcoin remains under substantial selling pressure, macroeconomic trends could soon tilt in its favor. “Selling pressure is still significant, but if you believe the broader economic outlook is improving, this could be an ideal time to accumulate,” he stated.
Currently, Bitcoin is trading near $105,200, having recently faced resistance at the $107,500 level. Analysts suggest that a strong move above the $108,000–$110,000 price range—and the ability to hold this zone as support—could signal a pivotal shift toward renewed bullish momentum.
Selling Pressure Declines, but Caution Remains
Data from Glassnode indicates that Bitcoin’s weekly realized profits have dropped to a range of $1–$2 billion since late September. This is a significant reduction from the $4 billion observed in July, when long-term holders accelerated profit-taking. The halving of selling pressure suggests that the worst of the short-term liquidation may be behind us.
However, a lingering obstacle remains: large-scale investors, or “whales,” continue to dominate the market. Their selling activity has thus far outpaced demand from exchange-traded funds (ETFs) and digital asset treasury (DAT) firms. While ETF outflows have slowed in November, they remain in negative territory, which has limited Bitcoin’s upward potential.
QCP Capital noted that this imbalance between whale supply and institutional demand is keeping prices range-bound. “Unless legacy supply clears out, the base case remains sideways movement in the near term, with potential upside capped around $118,000,” the firm stated.
Key Technical Levels to Watch
Several analysts agree that the $108,000–$110,000 zone is a critical inflection point for Bitcoin. Swissblock analysts believe that reclaiming and defending this range as support would likely ignite bullish momentum. “The structure is holding. If we reclaim the $108K–$110K pivot zone, momentum could pick up. Selling pressure is easing, and Bitcoin is showing early signs of a reversal,” they explained.
Bitfinex analysts echoed this view but added a further technical requirement: BTC must reclaim the Short-Term Holder (STH) Cost Basis at $112,500 before a sustained upward trend can be confirmed.
Macro Factors Could Fuel a Breakout
Beyond technical levels, several macroeconomic developments could serve as catalysts for a Bitcoin rally:
1. Potential End to U.S. Government Shutdown: Any resolution to ongoing political uncertainty could boost investor confidence and risk appetite.
2. Easing of Quantitative Tightening: If the Federal Reserve scales back QT measures, liquidity would increase, benefiting risk assets like Bitcoin.
3. Interest Rate Cuts: A dovish shift in monetary policy, including possible rate reductions in the coming quarters, could lower the opportunity cost of holding non-yielding assets like BTC.
4. Leadership Changes at the Fed: Speculation around replacing current Fed Chair Jerome Powell with a more dovish successor could influence market sentiment and expectations around future monetary policy.
These macro factors, if realized, would likely inject fresh capital into the cryptocurrency market and support a broader rally in digital assets.
Institutional Inflows Still Lagging
While institutional interest has been a major narrative in previous bull runs, current ETF flows remain underwhelming. November saw consistent net outflows, albeit at a slower pace than earlier in the year. This lack of sustained inflows from institutions has acted as a drag on Bitcoin’s recovery efforts.
Still, some analysts believe that once the macro landscape improves and technical barriers are cleared, institutional investors will return in greater numbers. “The pause in ETF demand is temporary. Once the broader economic picture clears up, capital will flow back into Bitcoin,” predicted one market observer.
What Traders Should Watch Next
The immediate focus for traders and investors is whether Bitcoin can break above the $108K–$110K zone and convert it into a strong support level. If this happens, a move toward $118K becomes more plausible. Failing that, the price is likely to remain in a holding pattern between $100K and $110K in the near term.
Short-term holders should also keep an eye on the $112,500 level, which could become a key pivot point for broader market sentiment. If Bitcoin can establish a firm base above this threshold, it would suggest a significant shift in momentum back toward the bulls.
Accumulation Phase in Progress?
Some on-chain indicators suggest that accumulation may already be underway. With the price stabilizing and selling pressure easing, BTC could be entering a phase where long-term investors quietly increase their holdings. Historically, such periods have preceded major upward moves.
Accumulation by long-term holders typically signals growing confidence in the asset’s future value. If this trend continues, it could enhance price stability and set the stage for the next leg higher.
Volatility Ahead, But Opportunity Persists
Despite the potential for bullish momentum, investors should remain cautious. Cryptocurrencies are inherently volatile, and external shocks—whether political, regulatory, or economic—can quickly shift market dynamics.
Nevertheless, the current combination of easing selling pressure, approaching key technical levels, and favorable macro trends suggests that Bitcoin may be nearing a critical junction. For investors with a long-term perspective and an appetite for risk, this could indeed be a strategic moment to consider entry.
Final Thoughts
While Bitcoin’s path forward is not without its challenges, the current market setup offers a blend of caution and opportunity. A decisive reclaim of the $108K–$110K zone could mark the beginning of a renewed uptrend, especially if supported by improving macro conditions and a revival of institutional interest.
For now, the market remains in a ‘wait-and-see’ mode, but the pieces are gradually falling into place for a potential breakout. Investors should watch key levels closely, stay informed on macro developments, and be prepared for both short-term volatility and long-term opportunities.