Bitcoin’s $117k Reset Unlocks Path Toward ATH As Bullish Structure Strengthens

Bitcoin is presently valued in the $122,000 price region following an impressive price surge over the last week. Notably, bullish sentiments around the crypto market leader are presently strong as analysts speculate that another accumulation phase may have commenced. On-chain analytics page, Swissblock has now provided an in-depth analysis of the present market situation, with insights on potential drivers for profits or ￰0￱ Reading: Bitcoin Price Nears Record Levels, Predictions Point To $140,000 By Early 2026 BTC Dip To $108,600 A Constructive Reset Earlier this month, Bitcoin registered a sharp decline from $117,000 to $108,600, sparking fears of a deeper ￰1￱ the market has since recovered, Swissblock explains that several on-chain indicators show the move was less a collapse and more a constructive ￰2￱ notion of a “reset, not capitulation” is key as resets allow markets to flush out excess leverage, absorb weak-handed sellers, and create room for fresh ￰3￱ explains that this is exactly what occurred in the $114,000–$118,000 range, where many late buyers from August had been looking for an ￰4￱ supply was absorbed, clearing a cluster of resistance and unlocking the path to retest all-time highs.

Notably, this price drop also highlighted the resilience of Bitcoin’s short-term holder (STH) ￰5￱ data shows the STH cost basis, or the average purchase price for recent buyers, sits at roughly $111,600. This level has now been defended five separate times since May, making it an important pivot point in the present market ￰6￱ Reading: Bitcoin Breaks $119,000: Analyst Says $139,000 Could Be Next Long-Term Behavior Encourages Bullish Shift But Downside Risks Remain At the same time, Swissblock notes that long-term holders (LTHs) have noticeably slowed their rate of ￰7￱ they continue to sell, the pace is far less intense than in previous ￰8￱ cooling of supply pressure allows new participants to accumulate with less resistance.

Historically, such phases have marked the transition from distribution to accumulation, creating structural stability and setting up bullish continuation. However, downside risks remain in that a resurgence of heavy selling could tip the balance and reintroduce fragility. However, as long as Bitcoin avoids slipping into a high-risk regime, the outlook favors resilience and upside ￰9￱ the time of writing, Bitcoin trades at $122,052, reflecting a slight 1.47% gain in the last 24 ￰10￱ trading activity has also surged by 19.28%, reinforcing the strength and momentum behind the ongoing market ￰11￱ a market cap of $2.43 trillion, Bitcoin continues to rank as the world’s largest cryptocurrency and fifth-largest ￰12￱ image from Flickr, chart from Tradingview