On-Chain Data Signals an Uptrend for Bitcoin 

Bitcoin is currently trading at a strong support level. On-chain analysis suggests that if this level holds, the uptrend will gain momentum. Technical analysts warn that failure to maintain this level could lead to a downward correction. 

According to Glassnode data, the MVRV ratio currently indicates that investors hold substantial unrealized profits. BTC is trading between $100,200 and $119,400, a range historically seen before local price peaks. Historically, when Bitcoin enters this range, price rallies are often followed by corrections. Therefore, investors should reconsider profit-taking strategies based on MVRV analysis. 

MVRV Ratio compares #BTC's market price to the average investor cost basis – helping gauge when investors hold outsized unrealized profits.
We're now trading between +0.5σ ($100.2K) and +1σ ($119.4K) bands, a zone that has often preceded local tops. pic.twitter.com/NQvB01CN3H

— glassnode (@glassnode) May 30, 2025

In the past two days, large investors whales have accumulated over 20,000 BTC. These aggressive buys show strong bullish expectations. This market activity highlights the importance of niche analyses such as whale buying signals and crypto accumulation phases. Renowned analyst Michael van de Poppe predicts Bitcoin could reach all-time highs this year. 

BTC Index 

The Bitcoin index has given initial signals of a rise. These indicators suggest a potential upward breakout soon. BTC Relative Strength Index (RSI) is around 56, indicating the market is neutral and not in overbought (above 70) or oversold (below 30) zones. 

Long-Term Bitcoin Outlook: $1 Million Target? 

Finance expert Robert Kiyosaki predicts Bitcoin could surpass $1 million in the future. Such long-term forecasts boost the adoption of crypto assets as stores of value. Concepts like BTC long-term investment, digital gold strategy, and portfolio diversification are back on investors’ radar. 

If BTC maintains its upward momentum, the $120,000 level will become a key focus. Market experts foresee strong psychological resistance at this point and significant selling pressure. 

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