11-6-2025 – Bitcoin’s long-term investors have bolstered their positions by an impressive 881,578 BTC over the past month, one of the most substantial accumulations in recent memory. This surge in holding, coupled with a palpable rise in market optimism, has coincided with Bitcoin’s price climbing above key technical thresholds, painting a bullish picture for its long-term trajectory.
Recent economic developments have lent subtle support to the cryptocurrency’s ascent. May’s Consumer Price Index (CPI) in the United States edged up by a modest 0.1%, with the annual inflation rate settling at 2.4%. Core CPI, excluding volatile food and energy prices, mirrored this restraint with a 0.1% monthly increase, undershooting expectations of 0.3%. On a yearly basis, Core CPI registered at 2.8%, slightly below the anticipated 2.9%. Defying forecasts, apparel prices—tipped to rise due to proposed tariffs—actually declined, marking the fourth consecutive month of cooler-than-expected inflation. Yet, with inflation still hovering above the Federal Reserve’s 2% target, prospects for interest rate cuts remain dim, despite political nudging from President Trump.
Technical indicators underscore Bitcoin’s robust momentum. On the weekly chart, the cryptocurrency’s price has held firm above its 20- and 50-week moving averages, a hallmark of sustained upward drive. The On-Balance Volume (OBV) has surpassed its December 2025 peak, reflecting consistent buying pressure following a pullback earlier in the spring. Complementing this, the Chaikin Money Flow (CMF) has crossed the +0.05 threshold, signalling significant capital inflows. Bitcoin’s price recently breached the prior weekly high of $104.4k, cementing a bullish swing structure. A critical demand zone, identified as a fair value gap between $98k and $100.7k, was tested earlier this month, reinforcing its role as a support level.
On the daily chart, Bitcoin’s bullish momentum persists, with another fair value gap spanning $106.5k to $108.3k. The cryptocurrency probed this demand zone on Thursday without slipping below it. However, a daily close beneath $106.5k could signal potential weakness, possibly driving prices towards the $100k-$102k range. For now, subdued profit-taking and resilient demand suggest that holders are eyeing loftier price targets, with some speculating whether Bitcoin could soar to $200k. While short-term uncertainties, including the impact of tariffs, cloud precise predictions, the technical outlook remains firmly optimistic, underpinned by steadfast accumulation and reduced trading activity among long-term investors.
