Bitcoin Nears $110,500 Resistance as Institutional Accumulation Surges 80%

Bitcoin is currently experiencing significant momentum as it approaches the $110,500 resistance level. This surge is driven by strong accumulation from long-term holders and institutional investors, both of which are key indicators of a potential breakout. The concentration of Bitcoin supply held by long-term holders has surpassed 80%, a historical indicator that often precedes major price rallies. This milestone has been observed in the past, such as in early 2024, when similar accumulation led to rallies exceeding 70%. The sustained confidence from these holders underscores a strong foundation for upward price movement.

Institutional investors are also playing a crucial role in this bullish outlook. Recent on-chain data reveals that over 19,400 BTC have moved into institutional-grade wallets, indicating renewed interest from corporate entities and investment funds. Notable firms such as Metaplanet and Tesla continue to expand their Bitcoin reserves, which adds a layer of credibility and stability to the market. This influx of institutional capital often acts as a catalyst for sustained price appreciation.

From a technical perspective, Bitcoin is trading within a tightening range between $107,000 and $110,500, characterized by a rising price channel and narrowing Bollinger Bands. The Relative Strength Index (RSI) remains neutral at 52, while the Moving Average Convergence Divergence (MACD) shows slight bullish momentum. These factors collectively suggest that Bitcoin is poised for a decisive move. Furthermore, the recent Golden Cross—a bullish crossover of the 50-day moving average above the 200-day moving average—has historically preceded substantial price gains, reinforcing the positive outlook.

The Golden Cross has been a reliable indicator of Bitcoin’s long-term bullish trends. Past occurrences in 2016, 2017, and 2020 led to remarkable price increases of +139%, +2200%, and +1190%, respectively. With Bitcoin currently maintaining levels above $109,000, the presence of this technical pattern suggests the market could be entering another phase of strong upward momentum. Analysts emphasize that while no indicator guarantees future performance, the alignment of technical signals and accumulation trends provides a compelling case for optimism.

Bitcoin’s current consolidation near $110,500, combined with historic levels of long-term holder supply and significant institutional accumulation, sets the stage for a potential breakout. Technical indicators such as the Golden Cross and tightening price ranges further support this outlook. Investors and traders should monitor these developments closely, as the convergence of on-chain data and market signals may herald a new bullish wave in Bitcoin’s price trajectory.

Elon Musk’s public praise for Bitcoin has added to the bullish narrative. Musk called fiat money “hopeless” and positioned Bitcoin as central to the America Party’s fiscal vision ahead of the 2026 midterm elections. This endorsement, along with the recent accumulation of Bitcoin by major corporations, has reinforced the cryptocurrency's reputation as a hedge against inflation and central banking risks. Japan’s Metaplanet stunned the market by acquiring 2,204 BTC for $237 million, bringing its total holdings to 15,555 BTC. This positions Metaplanet as the fifth-largest corporate Bitcoin holder, surpassing both Tesla and CleanSpark. Smaller institutions are joining the accumulation trend as well. France’s Blockchain Group bought 116 BTC, now holding 1,904 BTC. UK-based Smarter Web Company added 226 BTC, with a YTD return exceeding 26,000%. Despite broader market volatility, this kind of steady accumulation hints at growing institutional conviction, providing support beneath current price levels.

The derivatives market is reinforcing bullish sentiment. There is significant open interest building between $110,000 and $112,000, suggesting speculative positioning in favor of a breakout. A break above $110,800 would confirm bullish continuation for Bitcoin, with upside targets around the $111,500–$112,000 reversal zone. Funding rates remain positive but controlled, signaling sustainable bullish interest rather than frothy leverage. In the last 24 hours, options volume surged nearly 29%, reflecting growing anticipation of a major price move.

The Bitcoin Lightning Network and Taproot upgrade continue to bolster long-term fundamentals, reinforcing Bitcoin’s appeal as a decentralized inflation hedge amid macro uncertainty. With Bitcoin halving 2025 approaching, the broader supply narrative remains supportive of higher valuations. As of July 9, Bitcoin price remains poised near $109,000, consolidating below key resistance. With whale accumulation, political backing, and tight technical patterns aligning, the stage appears set for an imminent breakout toward $110K and beyond.

A confirmed break above $110,500 could propel Bitcoin toward the $114,000 channel top, while failure to hold $107,000 may lead to a retest of the $105,200–$104,500 support zone. In the short term, all eyes remain on volume, volatility, and confirmation candles. If momentum sustains, Bitcoin could soon chart a new leg higher — one that may redefine its position heading into Q3.