We are at a decisive moment for Bitcoin. The bullish narrative is no longer a promise but a palpable reality on the charts, fueled by a wave of liquidity that has cleared the market of overly-optimistic sellers.
The climax of this week came on Wednesday, with the largest liquidation of short positions in the period: $234 million were swept away, confirming that the bulls have taken control of the price with unprecedented force. Over the past week, the market has liquidated a total of $622 million, a clear sign that the bearish barriers are crumbling one after the other.
The Battle for the ATH and the Vital $117K Support
Bitcoin is currently just $500 USD away from its All-Time High (ATH). This momentum is evident on the daily timeframe, where the price is clearly set for a new breakout.
A crucial factor: The key resistance level of $117,000 USD was not only broken but has now transformed into a key support that the bulls are obligated to defend at all costs. If this base holds, the chances of a new ATH skyrocket.
Fundamentals and Sentiment: Institutional Fuel
This rally isn't purely speculative:
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Capital Flows: Inflows into Bitcoin Spot ETFs have registered the second-highest volume week of the year, coupled with the constant accumulation by corporate treasuries, injecting strong, organic demand.
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Favorable Seasonality: We are approaching the end of 2025, and October and November have historically been the strongest months for Bitcoin.
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Market Psychology: Sentiment is at 71 points (Greed). While extreme greed often precedes corrections, in a consolidated bull cycle, it may simply be the start of the euphoria that seeks higher targets.
The Final Challenge: What's Next?
Can the bears halt the price at this last psychological barrier of $500, or will we soon be celebrating the bulls hitting their ambitious Bitcoin targets of $135,000 – $170,000 USD per BTC?
The market, which annually offers returns of up to 60% for holders, forces us to take a position.
Vanny Trader Question: With the $117,000 USD support in sight, are you positioned for the upside to surf this imminent breakout, or are you waiting for a sufficient correction to join the move?
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