Bitcoin May Hit $110K as Strategy Absorbs Nearly 3x New BTC Supply
Cointelegraph
Strategy's aggressive Bitcoin accumulation is absorbing triple the new supply, potentially invalidating a bearish chart pattern and fueling a rise toward $110,000.Summary
Despite Bitcoin currently trading within a bear flag pattern that suggests a potential price decline, aggressive accumulation by Strategy may counteract bearish technical signals. By absorbing nearly three times the amount of new Bitcoin produced by miners, Strategy has created significant demand pressure. If Bitcoin breaks above its current resistance at the mid-$70,000 level, analysts suggest the bear flag will fail, potentially setting the stage for a rally toward a price target of $110,000, echoing historical pattern reversals seen in 2018.
(Source：Cointelegraph)