Bitcoin News Today: Bitcoin's 67% Individual Holdings Fuel 11.7% Price Surge to $131,757 as Technical Indicators Turn Bullish

Bitcoin’s recent price action above $118,000 has reignited discussions about the role of individual ownership in shaping its market dynamics. According to data from River, a Bitcoin-focused financial institution, 67% of all BTC remains under individual control, with institutional entities holding just 13.8% of the supply [1]. This distribution challenges narratives emphasizing institutional dominance and aligns with Bitcoin’s foundational ethos of decentralization. The resilience observed during a recent whale-driven sell-off underscores the influence of retail holders, who have helped sustain price above $117,000 despite increased selling pressure [1].

Technical analysis further supports a bullish outlook. Bitcoin’s daily chart exhibits an emerging Elliott Wave pattern, with the asset entering the early stages of Wave (V). Analysts note that the completion of waves (i) through (iv) and consolidation near the 9-day EMA at $118,016.64 suggest a potential target of $131,757 as the pattern resolves [2]. This projection is bolstered by a bull pennant formation below the EMA and an RSI of 66.42, which remains below overbought levels, indicating room for further gains [2].

Meanwhile, the Index Bitcoin Cycle Indicators (IBCI) has entered the Distribution zone, a historically significant phase associated with market euphoria and cycle peaks. However, the index is currently at the lower boundary of this zone (80%), far from the 100% threshold that historically signaled major tops [3]. This suggests that Bitcoin’s projected $140,000–$150,000 range remains achievable, as aggressive profit-taking typical of cycle peaks has yet to materialize [3].

The market’s recent recovery, including a key close above $115,000 to fill the CME gap, has shifted momentum in favor of bulls. Institutional activity, described as “heavily buying BAGS” during the correction, further reinforces confidence in the uptrend [4]. Despite these positives, analysts caution against complacency. The IBCI’s entry into Distribution territory highlights the inherent volatility of crypto markets, urging traders to maintain risk management strategies [3].

The decentralized ownership structure of Bitcoin—where individuals hold over two-thirds of the supply—continues to play a pivotal role in its price trajectory. Unlike traditional assets, Bitcoin’s value proposition is closely tied to its resistance to centralized control, a dynamic that has historically underpinned its resilience during market stress [1]. As the price approaches new highs, the interplay between retail participation, institutional activity, and technical indicators will remain critical to assessing its short- and long-term potential.

Source: [1] [Bitcoin Price Prediction: 67% of BTC Still in Individual Hands – What Does This Say About Price Potential?](https://cryptonews.com/news/bitcoin-price-prediction-67-of-btc-still-in-individual-hands-what-does-this-say-about-price-potential/)

[2] [Bitcoin Price Prediction: 67% of BTC Still in Individual Hands – What Does This Say About Price Potential?](https://cryptonews.com/news/bitcoin-price-prediction-67-of-btc-still-in-individual-hands-what-does-this-say-about-price-potential/)

[3] [Bitcoin Price Prediction: 67% of BTC Still in Individual Hands – What Does This Say About Price Potential?](https://cryptonews.com/news/bitcoin-price-prediction-67-of-btc-still-in-individual-hands-what-does-this-say-about-price-potential/)

[4] [Bitcoin Price Prediction: 67% of BTC Still in Individual Hands – What Does This Say About Price Potential?](https://cryptonews.com/news/bitcoin-price-prediction-67-of-btc-still-in-individual-hands-what-does-this-say-about-price-potential/)