Bitcoin (BTC) executed a technical Bitcoin double bottom pattern over the weekend. This move validated a bullish weekly close above its 50-week moving average. The formation bounced repeatedly in the $100,000 zone. Data from the analytics firm Glassnode confirms this area as key support.
The initial rally now faces resistance near $111,300. Likewise, Glassnode identifies the next significant hurdle near $108,500. This level represents the 85th percentile cost basis. Historically, this metric has acted as resistance during market recoveries. Technical analysis suggests the bullish momentum needs to clear these levels to confirm the trend.
The Bitcoin double bottom pattern is a classic bullish formation. It suggests the asset found solid support after two consecutive drops. The zone between $98,100 and $102,000 acted as a daily order block. However, bullish confidence is tempered by external factors. Market participation appears to be thinning slightly, complicating decisive upward moves.
Could a gap in the futures market halt the bullish momentum?
Despite the technical optimism, a notable short-term risk remains. An unfilled CME “gap” exists between $103,100 and $104,000. These gaps refer to the price difference between Friday’s close and Monday’s open on the Chicago Mercantile Exchange. Frequently, the price retraces to “fill” this gap. Therefore, BTC could retest $101,000-$102,500 before a larger move.
On the other hand, data from CryptoQuant shows significant liquidity on the sidelines. The Stablecoin Supply Ratio (SSR) has fallen to 13.1, one of its lowest levels in 2025. This indicates that capital is awaiting a clear signal before deploying. Furthermore, analyst Darkfost observed a 40% rise in short-term holder (STH) inflows to Binance. With a break-even price of $112,000, many are underwater and could sell into volatility.
Bitcoin’s market structure presents a duality. The Bitcoin double bottom pattern offers a clear bullish signal toward $110,000. Nonetheless, short-term pressures are undeniable. The confluence of the CME gap, STH selling pressure, and stablecoin accumulation suggests that volatility will precede the bullish continuation. Investors in the leading criptomoneda are watching to see if the $100,000 support holds a retest.
