Bitcoin Forecast: Will Prices Reach $107K? Top Factors Explained

Bitcoin is on an upward trajectory, with prices exceeding key resistance levels and hinting at a potential surge beyond $100,000. Let’s examine the driving forces behind this bullish movement: 1) On-chain indicators signal a market recovery from its recent downturn. 2) Bitcoin’s short-term price action is supported by on-chain metrics that have helped it weather market downturns, indicating potential for further growth. 3) Analysis of percent supply in profit suggests positive investor sentiment and supports the expectation of continued bullish momentum.