Bitcoin [BTC] is maintaining solid momentum above the $105,000 mark, as market participants anticipate a potential breakout toward a record high near $130,000 in the next quarter.
Latest metrics reveal that Bitcoin’s Realized Supply Distribution suggests it is currently priced above the average acquisition cost for most holders, pointing to growing confidence. Additionally, the 24-hour liquidation chart reveals concentrated leverage around present levels, hinting at possible sharp movements in the near term.
The most recent liquidation heatmap reveals dense liquidity pockets just above $108,800 and beneath $107,100. These regions serve as key inflection points, where a breakout in either direction could spark significant liquidations.
If Bitcoin secures a firm close above $108,800, it may initiate a wave of short position liquidations, potentially pushing the price into uncharted territory and setting the stage for a rally toward $110,000 or higher. Conversely, a drop below $107,100 could liquidate long positions, increasing downward momentum.
Highlighting the intensifying leverage contest in the market, Aguila Trades has re-entered with a bold 20x leveraged short, as reported by Onchain Lens. This strategic move follows BTC dipping below $108,000, with Aguila positioning for further downside if bearish momentum persists.
Still, a breakout above $108,800 could swiftly liquidate Aguila’s short, shifting market pressure back toward the bears. Conversely, if Bitcoin fails to maintain support and drops beneath $107,100, the trade could prove profitable for Aguila—strengthening the short outlook and potentially deepening the correction.
Analysts believe the upcoming weekly close for Bitcoin will be crucial. A decisive finish above $110,000 could serve as a launchpad toward the Fibonacci extension target of $135,500.
This mirrors the breakout observed in Q4 2024, when BTC surged after breaking through the $75,000 level. If a similar pattern unfolds, a confirmed close above $107,720 may pave the way first to $110,000, and eventually set the stage for a potential climb to $130,000.
If Bitcoin fails to sustain its pace above $108,000, analysts caution that it could retreat toward the $92,000–$95,000 support zone.
Although multiple bullish breakouts and retests have occurred, the absence of a firm weekly close above $107,000 might pause upward momentum, leaving BTC range-bound and delaying its path to a new all-time high.
Currently, dense leveraged liquidity zones and heightened speculation are shaping the setup for Bitcoin’s upcoming major move. Monitoring these key levels remains crucial as its Q3 trend direction remains uncertain.
