Casascius Coins Explained: 9 Lost Physical Bitcoins Move After 12 Years
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Key Takeaways
BTC has surged above $120,000, with mid-sized holders driving accumulation.
The Coinbase Premium Gap hit $94, reflecting strong U.S. institutional buying.
BTC could climb to $124,685, based on certain conditions revealed here.
The long wait for Bitcoin’s (BTC) next big move might be over. As of this writing, Bitcoin’s price has shattered the $120,000 resistance level, sparking whispers of a larger rally.
This comes weeks after one of the most significant profit-taking events of 2025. With the dust settling, is BTC ready for new highs?
Let’s find out.
Why Bitcoin Bounced
One key reason behind Bitcoin’s recent rebound is the accumulation of mid-sized holders. According to Glassnode, the Trend Accumulation Score for this cohort has shifted strongly positive, indicating that wallets in this range are steadily increasing their holdings.
Meanwhile, neither whales nor small holders have joined the buying wave. The encouraging sign, however, is that they are not selling either.
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Their neutral stance helps stabilize supply, reducing downward pressure on the market.
This combination creates a foundation for price resilience. As it stands, whales might eventually join the trend.
If that happens, the surge in demand could drive Bitcoin’s price higher and potentially test the overhead resistance level sooner than expected.
BTC Trend Accumulation Score By Cohort | Credit: Glassnode
Besides that, another bullish signal has emerged — the Coinbase Premium Gap has spiked to $94.02. In simple terms, U.S. investors are paying nearly $94 more for Bitcoin on Coinbase than on Binance.
Such a wide premium reflects strong demand from U.S.-based institutions and high-net-worth buyers. Historically, sustained favorable premiums have preceded major breakouts, as they signal a willingness among this cohort to pay above the global average.
If this sentiment persists, the premium could serve as a leading indicator of renewed upward momentum, increasing the likelihood of Bitcoin’s price reaching a new all-time high.
Despite the bullish outlook, some analysts, including Benjamin Cowen, founder of IntoThe Cryptoverse, expect the BTC price to reach the cycle top before the end of the year.
“While August was red and September was green, August marked the local top and September marked the local bottom. Then Bitcoin usually goes up in Q4 into the cycle top. So I think the cycle top for BTC is before EOY,” Cowen opined.
BTC Price Prediction: Record Run Ahead
From a technical perspective, the daily chart shows Bitcoin’s price is trading in an ascending channel. A closer look at the chart reveals that the Moving Average Convergence Divergence (MACD) has formed a bullish crossover for the first time since August 8.
If this trend persists, BTC may experience a rally to an all-time high of $124,685. According to the cycle top, the Fib levels indicate that Bitcoin could reach $171,466.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
