Bitcoin is holding firm above the psychologically critical $100,000 level, fueling speculation about the next leg of the bull market. After briefly touching $104,600 earlier this week, the Bitcoin price has entered a consolidation phase around $102,750 — but strong technical indicators suggest this may be a healthy reset, not a reversal.
One of the most bullish signals comes from on-chain data, where miner reserves remain flat despite higher prices — indicating that miners, historically known for selling into strength, are currently choosing to HODL. As funding rates climb and open interest rises, analysts are watching closely for a continuation pattern that could push BTC toward the $110,000 range in the coming days.
In this article, we break down the latest Bitcoin price analysis, look at miner behavior, and explain what it all means for short-term and mid-term forecasts.
Technical Analysis: Bitcoin Price Consolidates Above Key Support
After a sharp rally above $100,000, the Bitcoin price is currently consolidating in the $101,000–$103,000 range. The daily chart shows strong support at $100,000, which has now flipped from resistance to a key psychological floor. The recent high at $104,600, reached on May 11, has so far held as a local top.
Source: Tradingview
Volume remains elevated, and the RSI is cooling off from overbought conditions without breaking structure — a sign that the market is absorbing recent gains rather than rejecting them.
Analysts are eyeing $107,500 as the next major resistance zone. If BTC breaks above that level with conviction, many believe a retest of the all-time high above $110,000 is in play. On the downside, a close below $99,000 would invalidate the short-term bullish setup.
On-Chain Metrics: Miners Are Holding, Not Selling
A key bullish signal supporting the current price structure comes from on-chain miner behavior. According to CryptoQuant data, miner reserves have remained flat since March 2025 — even as prices surged above $100K. This suggests miners are confident in further upside and are choosing to accumulate rather than take profits.
As shared in a recent tweet by Crypto Rover, this sideways miner reserve trend is historically associated with bull market continuation, especially after halving cycles. Long-term holders and miners both holding steady is often a strong foundation for sustained upward price action.
In short: when miners aren’t selling, it’s often a sign that smart money expects higher prices ahead.
Short-Term Bitcoin Forecast: Sideways Action Before CPI?
While the broader structure remains bullish, short-term caution is warranted due to macroeconomic uncertainty. The next major market catalyst is the release of U.S. CPI inflation data, which could influence risk sentiment across equities and crypto.
Funding rates across derivatives platforms are rising again, reflecting bullish positioning. However, a spike in open interest without corresponding spot volume could make BTC vulnerable to a short-term shakeout before another leg higher — something we’ve seen multiple times this cycle.
If CPI data is neutral or better-than-expected, Bitcoin could resume its climb quickly. Otherwise, a retrace toward $98,000–$99,000 would likely be viewed as a buy-the-dip opportunity by bulls watching key moving averages.
Final Thoughts – Bitcoin’s Foundation Looks Solid
With strong support at $100K, bullish consolidation on the daily chart, and miners holding rather than selling, Bitcoin’s current price structure looks fundamentally strong. While external macro data may cause temporary volatility, the underlying signals — from both technicals and on-chain — point toward continued accumulation and growing institutional trust.The next breakout level to watch is $107,500. If that falls, a run to $110K or higher could unfold quickly. Until then, the Bitcoin price seems to be building a healthy base for its next big move, with momentum increasingly driven by conviction rather than hype.
