Bitcoin Price Prediction: Strong Breakthrough of $115,000 Resistance, Whales Buy the Dip with 120,000 BTC, $118,000 Becomes the New Battleground for Bulls and Bears.

Bitcoin successfully reclaimed the key resistance level of $115,000, currently trading around $116,377, with the next target aimed at $118,327. On-chain data shows that during the recent rebound, Whales bought over 120,000 BTC in the range of $112,000-$114,000, indicating an intention to buy the dip. However, hidden risks are emerging: long-term holders realized $44.5 million in profits within 48 hours, and the number of new addresses and trading volume plummeted to 131,000/219,000, revealing insufficient user activity. Although a rare $33.25 million net inflow in Spot was recorded on August 7, ending a trend of outflows for several months, it is necessary to continue monitoring whether this signals a reversal. Analysts emphasize that holding above $115,000 along with a rebound in on-chain activity is essential to confirm the upward trend.

Whales buy the dip with 120,000 BTC, long-term holders show selling pressure at highs During this round of Bitcoin rebound, significant buy the dip activity has been captured on-chain: over 120,000 BTC has been traded in the $112,000 to $114,000 price range, indicating opportunistic accumulation by Whale-level funds. Glassnode points out that the on-chain chip distribution in the current $110,000 - $116,000 price band is sparse, forming a "vacuum zone", which weakens the strength of support below. More funds need to accumulate densely near the current price to support sustained upward movement. It is worth noting that long-term holders (LTH) realized a profit of $44.5 million in 48 hours during the rebound, reflecting a slight loss of confidence among some "diamond hands".

Technical Breakthrough: Holding above $115,000 opens up upward space, $118,000 becomes a new battleground for bulls and bears

(Source: TradingView) Bitcoin successfully broke through and held above the $115,000 key resistance level, with the technical structure completing an important shift. The daily chart has formed a solid "higher low" pattern, paving the way to challenge the next target of $118,327. If it breaks through effectively, it will further open up space to $122,000. However, analysts warn: the breakout requires sustained volume and buying consistency verification. If it cannot hold the $115,000 threshold in the next few trading days, it could turn into a "false breakout" trap.

On-chain activity weakens: New addresses and volume plummet, demand side momentum insufficient Network fundamental data raises alarms:

• New Address: Currently reported 131,000 (weekly peak halved)

• Daily Trading Volume: Plummeted to 219,000 transactions Two key indicators are experiencing extreme volatility and continuing to decline, revealing user participation weakening and network growth momentum exhaustion. History shows that Bitcoin's sustained rise requires on-chain activity to steadily increase as support, and the current data inconsistency suggests a lack of unified bullish sentiment in the market, posing a potential threat to breakout trends.

  (Source: Santiment)

Capital flow anomaly: a net inflow of 33.25 million was observed for the first time this month, reversal indicators pending confirmation CoinGlass monitoring shows that on August 7th, Bitcoin recorded a rare $33.25 million Spot net inflow, ending a months-long trend of capital outflow. This mutation may indicate:

1. New buying positions: Institutions/whales are positioning themselves at lower prices.
2. Short-term trading preparation: Funds briefly hold above the resistance breakthrough. However, caution is needed: capital inflows may also be a precursor to distribution (i.e., "fake bullish"). If net inflows in the coming days can be accompanied by prices holding above 115K, it is expected to strengthen the rise logic; conversely, if it is just a fleeting moment, it will only be a short-term behavior of traders competing at technical levels.

【Conclusion】 The technical breakthrough of Bitcoin above the $115,000 resistance level is confirmed as a positive signal, with Whales buying 120,000 BTC in the $112,000-$114,000 range showcasing strong capital support. However, the on-chain undercurrents cannot be ignored: long-term holders are selling at highs, network activity has plummeted, and the sustainability of capital inflow is in doubt, creating three major concerns that contribute to market vulnerability. If bulls wish to conquer $118K and start a new cycle, three conditions must be met: solid support at $115,000 , a rebound in on-chain user activity, and continuous net inflow of spot capital. Tonight, pay attention to the impact of the U.S. PPI data on interest rate cut expectations; be cautiously bullish above the $115,000 watershed level, but if it falls below, be alert to the risk of filling the CME futures $112,500 gap.