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CoinGape 2024-12-24 12:47:48

3 Key Metrics That Hint Bitcoin Price Will Hit $100K Soon

After crashing nearly 15% Bitcoin has spent nearly a week below $100K and BTC currently trades at $94,124. Despite the brutal crash and sideways movement when will Bitcoin price hit $100,000? This article explores three key on-chain metrics that suggest that BTC is preparing for a strong bounce. In the previous article, CoinGape explore three reasons why Bitcoin price crash will end soon. This article explores why BTC should bounce soon and revisit the historic $100K level. 3 Key Metrics That Could Propel Bitcoin Price to $100K According to Santiment, on-chain data provider, the Network Realized Profit/Loss (NPL) indicator saw a spike to roughly 106K & 100K on December 19 and 20, respectively. This profit-taking suggests that investors panic sold. Hence, the chances of a further drop due to spike in selling pressure. BTC NPL Further supporting this thesis is the 30-day MVRV (market value to realized value) ratio has dipped below zero and sits at -4.77%. Between 5% to 10% is where BTC formed a bottom in the past two months. The fact that BTC’s 30-day MVRV is sitting in the opportunity zone suggests that a reversal is likely in the next few days. BTC price vs. 30-day MVRV Lastly the supply distribution metrics show that whales accumulated 30,000 BTC since the ATH. These wallets that hold 100 to 1,000 BTC have shown resilience despite the short-term correction and hints that investors are bullish on the last few days of 2025. BTC Whale Supply Distribution All in all, the outlook for Bitcoin price looks bullish and a potential drop here is highly unlikely. Even if there is a drop, it should stabilize around $90K. As mentioned in yesterday’s Bitcoin article , the drop is likely going to reverse soon and kickstart a consolidation or a reversal. Furthermore, the quarter four is generally bullish according to historical price action, which adds credence to what technicals and on-chain metrics are showing. Therefore, the ongoing downtrend is unlikely to continue and a potential bounce could be coming up soon. The post 3 Key Metrics That Hint Bitcoin Price Will Hit $100K Soon appeared first on CoinGape .

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