Bitcoin could break past $110,000 as inflation pressures mount, equities rally, and passive capital flows grow on potential S&amp;P 500 rebalancing events.

Bitcoin holds steady as major catalysts align for breakout above $110K

Cardano price started a fresh decline from the $0.590 zone. ADA is now 
consolidating and might attempt a fresh increase above the $0.5820 zone. ADA 
price started a fresh decline below $0.5820 and $0.5750. The price is trading 
above $0.560 and the 100-hourly simple moving average. There is a key bullish 
trend line forming with support at $0.5640 on the hourly chart of the ADA/USD 
pair (data source from Kraken). The pair could start a fresh decline if it 
dips below the $0.5560 support zone. Cardano Price Fails To Extend Gains In 
the past few sessions, Cardano saw a fresh decline from the $0.590 zone, 
unlike Bitcoin and Ethereum. ADA declined below the $0.580 level and trimmed 
most gains. The bears pushed the price below the 50% Fib retracement level of 
the upward move from the $0.5567 swing low to the $0.5902 high. The price even 
spiked below the $0.570 support but stayed above $0.5650. There is also a key 
bullish trend line forming with support at $0.5640 on the hourly chart of the 
ADA/USD pair. The trend line is close to the 76.4% Fib retracement level of 
the upward move from the $0.5567 swing low to the $0.5902 high. Cardano price 
is now trading above $0.5650 and the 100-hourly simple moving average. On the 
upside, the price might face resistance near the $0.5735 zone. The first 
resistance is near $0.5820. The next key resistance might be $0.590. If there 
is a close above the $0.590 resistance, the price could start a strong rally. 
In the stated case, the price could rise toward the $0.620 region. Any more 
gains might call for a move toward $0.6350 in the near term. More Losses In 
ADA? If Cardano’s price fails to climb above the $0.5820 resistance level, it 
could start another decline. Immediate support on the downside is near the 
$0.5640 level and the trend line. The next major support is near the $0.5460 
level. A downside break below the $0.5460 level could open the doors for a 
test of $0.5250. The next major support is near the $0.510 level where the 
bulls might emerge. Technical Indicators Hourly MACD – The MACD for ADA/USD is 
gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) – 
The RSI for ADA/USD is now below the 50 level. Major Support Levels – $0.5640 
and $0.5460. Major Resistance Levels – $0.5735 and $0.5820.

Cardano (ADA) Sideways — Support Intact, But No Spark for a Move Yet

Although Bitcoin (BTC) has recorded slight gains over the past month &#8211; up 3.6% 
in the last 30 days &#8211; the leading cryptocurrency is experiencing a lack of 
Apparent Demand, indicating broader market weakness that could lead to a price 
slump in the near term. Bitcoin Apparent Demand Enters Negative Territory 
According to a recent CryptoQuant Quicktake post by contributor Crazzyblockk, 
Bitcoin’s new buyer demand is failing to absorb the combined supply pressure 
from freshly mined BTC and selling from long-term holders (LTHs). As a result, 
BTC’s Apparent Demand has turned negative. The analyst noted that the 
imbalance between buyer demand and excessive supply has created a high-risk 
environment for a near-term price correction. Notably, the $100,000 level 
remains an important support for the flagship digital asset. Related Reading: 
Bitcoin Weak Hands Exit While Smart Money Loads Up – Is A Breakout Near? For 
the uninitiated, Bitcoin’s Apparent Demand measures the balance between new 
buying interest and the supply of coins entering the market from miners and 
LTHs selling. When this metric turns negative, it means that the amount of BTC 
being sold exceeds new purchases, indicating potential market weakness and 
downward price pressure. BTC entering negative Apparent Demand territory can 
be considered a bearish development for two key reasons. First, it directly 
increases the “for sale” BTC supply, exerting downward pressure on the 
cryptocurrency’s price. Second, significant selling by LTHs &#8211; often considered 
seasoned and sophisticated investors &#8211; suggests that experienced players 
believe the crypto market has likely reached a local top and are exiting 
before a potential severe market downturn. The analyst added: Consequently, 
the market is in a vulnerable state. Any price rallies from here will likely 
struggle to overcome this wave of available supply, and market support may be 
weaker than anticipated. While not a guarantee, this on-chain signal strongly 
suggests a period of caution is warranted until demand shows clear signs of 
recovery. That said, recent on-chain analysis indicates a more optimistic 
outlook. According to fellow CryptoQuant analyst Avocado_onchain, the 30-day 
moving average (MA) of Bitcoin Binary Coin Days Destroyed (CDD) shows signs of 
healthy consolidation rather than a potential local top. Some Positive Signs 
For BTC While BTC’s Apparent Demand might be drying up, easing global 
geopolitical tensions could catalyze a rally in risk-on assets, including 
cryptocurrencies. Further positive macroeconomic developments may also benefit 
BTC, potentially leading to a cycle top much higher than currently 
anticipated. Related Reading: Bitcoin May Surprise Bears: $100K–$110K Range 
Shows Rising Short Interest Another indicator negating the possibility of a 
major price pullback is the steadily rising short-term holder (STH) floor 
price, which has surged to as high as $98,000 according to the latest on-chain 
data. At press time, BTC trades at $107,500, down 0.5% in the past 24 hours. 
Featured image from Unsplash, charts from CryptoQuant and TradingView.com

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