{"id":386193,"date":"2025-08-31T01:42:11","date_gmt":"2025-08-31T01:42:11","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/386193\/"},"modified":"2025-08-31T01:42:11","modified_gmt":"2025-08-31T01:42:11","slug":"can-bitcoin-reclaim-120k-this-price-range-holds-the-key","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/386193\/","title":{"rendered":"Can Bitcoin reclaim $120K? – THIS price range holds the key"},"content":{"rendered":"

\t\t\t\t\t\t\t\tKey Takeaways\u00a0<\/b><\/p>\n

JPMorgan\u2019s undervaluation call aligns with MVRV, ETF inflows, and shrinking reserves. Meanwhile, Bitcoin\u2019s rebound potential hinges on $104K support, with $120K as the next key target.<\/p>\n

Since mid-2025, institutional confidence in Bitcoin [BTC]<\/a> grew as volatility fell to near 30%, the lowest annualized level ever recorded for the asset.\u00a0<\/p>\n

JPMorgan recently emphasized<\/a> that BTC remains undervalued when compared to gold, citing its evolving role as a macro hedge rather than a speculative tool.\u00a0<\/p>\n

Supporting this, the MVRV Ratio stood at 2.1, far below overheated levels near 4. In fact, Exchange Reserves were shrinking while ETF inflows stayed steady, reflecting structural demand.<\/p>\n

Therefore, both on-chain signals and institutional perspectives suggested Bitcoin\u2019s fair value lay above its current market level.<\/p>\n

Can Bitcoin rebound and target $120K?<\/p>\n

Bitcoin traded around $108,450, at press time, rebounding from the 0.618 Fibonacci retracement at $104.7K \u2013 a zone that historically acted as strong support.<\/p>\n

Naturally, a bounce here could unlock gains toward $112K and $120K\u2013$123K.<\/p>\n

Meanwhile, the Relative Strength Index sat near 37, indicating weakening downside pressure and conditions edging toward oversold.\u00a0<\/p>\n

However, a failure to hold $104K could lead to a correction with $100K as the next key defense. Therefore, the $104K\u2013$108K range will dictate Bitcoin\u2019s near-term trajectory.\u00a0<\/p>\n

\"\"<\/a><\/p>\n

Source: TradingView<\/p>\n

Is cooling futures activity a sign of stabilization ahead?<\/p>\n

Derivatives data showed cooling Futures Volumes, as the Bubble Map signaled easing speculative activity.<\/p>\n

Reduced leverage often precedes stabilization, since liquidation risk falls when futures trading slows.<\/p>\n

On top of that, calmer derivatives markets can create healthier ground for sustained rallies\u2014even if they delay short-term fireworks. Institutional players often accumulate in such periods, favoring efficiency over volatility.<\/p>\n

\"\"<\/a><\/p>\n

Source: CryptoQuant<\/a><\/p>\n

Does THIS drop confirm a stronger network value?<\/p>\n

Bitcoin\u2019s Network Value to Transaction Ratio dropped by more than 23% to 23.7, as of writing, marking a significant decline.\u00a0<\/p>\n

This shift means the network\u2019s transferred value is improving relative to its market capitalization, which historically supports more sustainable price growth.\u00a0<\/p>\n

Having said that, the ratio must remain subdued to preserve confidence. Elevated readings have often preceded overheated valuations and corrective phases.<\/p>\n

\"\"<\/a><\/p>\n

Source: CryptoQuant<\/a><\/p>\n

Will Bitcoin reclaim $120K in the coming weeks?<\/p>\n

JPMorgan\u2019s undervaluation thesis aligned with on-chain improvements and technical resilience, reinforcing Bitcoin\u2019s potential for renewed strength.\u00a0<\/p>\n

If the $104K retracement level continues to act as a base, the path toward $112K and $120K remains achievable.\u00a0<\/p>\n

Cooling Futures activity and a lower NVT Ratio provide additional reasons for optimism.<\/p>\n

\t\t\t\t\t\t\t\t\t\t\tNext: From GPUs to tokens \u2013 How Nvidia\u2019s optimism might influence the Crypto AI sector<\/a>\t\t\t\t\t\t\t\t\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"Key Takeaways\u00a0 JPMorgan\u2019s undervaluation call aligns with MVRV, ETF inflows, and shrinking reserves. Meanwhile, Bitcoin\u2019s rebound potential hinges…\n","protected":false},"author":2,"featured_media":386194,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[52,51,16,15],"class_list":{"0":"post-386193","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-ambcrypto","9":"tag-business","10":"tag-uk","11":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115120842252449670","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/386193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=386193"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/386193\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/386194"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=386193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=386193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=386193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}