On-Chain Data Flashes Bullish: Is Bitcoin Ready for a $110K Comeback?

Bitcoin's price has risen by 1.6% to $107,428 after a dip last week, showing signs of recovery. Despite being 4.2% below its all-time high, the weekly trend indicates a 3.3% increase, suggesting renewed buyer confidence. On-chain analysis by CryptoQuant contributor Amr Taha supports a potential continuation of the rally. Key metrics like the Binance Taker Buy/Sell Ratio, now at 1.1, indicate stronger buying conviction. The Buy/Sell Pressure Delta suggests the market isn't overheated, leaving room for accumulation. Breakout behavior above the 1D–1W UTXO band suggests new holders are in profit and choosing to hold. The Long-Term Holder Realized Cap has surpassed $56 billion, indicating strong conviction among long-term investors. Recent inflows of over $550 million in stablecoins to Binance suggest readiness for direct asset purchases. These indicators collectively suggest potential volatility and buying pressure that could benefit Bitcoin's short-term price.