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>>Bitcoin's price might stabilize around $123,000, which could lead to a potential 20% to 30% price increase based on positive blockchain data.

Bitcoin's price might stabilize around $123,000, which could lead to a potential 20% to 30% price increase based on positive blockchain data.

crypthub

2 days ago

Bitcoin Price Action

Bitcoin is attempting to establish $123,000 as support, a previous all-time high. A sustained weekly close above this level could trigger a potential 20–30% rally toward $130,000–$133,000. Traders are closely watching these developments and monitoring technical and on-chain indicators.

On-Chain Strength & Metrics

Currently, 99.4% of Bitcoin's circulating supply is in profit, a historically high level indicating broad holder gains. Key metrics like DeFi TVL, active addresses, and exchange inflows are showing increased engagement across the network and support bullish momentum. Volume has exceeded $70.9 billion.

Monitoring and Confirmation

Confirmation requires multiple weekly closes above $123,000 alongside rising on-chain inflows and activity. Traders should also observe exchange order books and liquidity for further signals. If successful, analysts target price levels between $126,000–$128,000 and ultimately $130,000–$133,000.