Key Takeaways
- Bitcoin continues to trade within a bullish ascending channel, with upside potential toward $140,000, according to Bitcoinsensus.
- On-chain data from Ali shows long-term holders have sold 371,584 BTC since July, marking peak distribution levels.
- Crypto Rover draws parallels between the 2020 CARES Act rally and today’s Trump Tariffs $2,000 Stimulus Bill, suggesting a familiar setup for the next major price cycle.
Analyst platform Bitcoinsensus reports that Bitcoin is maintaining its position within a long-term ascending parallel channel, a structure that has guided price action since early 2024. The chart’s upper boundary projects a potential retest near $140,000 if the channel remains intact in the coming months.
The channel’s support line currently sits near $95,000, creating a mid-range equilibrium zone that traders are closely monitoring for confirmation of renewed bullish momentum. Bitcoin’s resilience around $106,000 this week has strengthened sentiment that the next leg higher could begin before year-end.
Whale Behavior Mirrors Previous Market Peaks
However, on-chain analytics from Glassnode (shared by analyst Ali) reveal that long-term holders are actively taking profits, having sold over 371,000 BTC since July. This behavior historically marks late-stage consolidation periods before new cycle highs.
The data suggests that profit-taking by early investors could supply short-term resistance but also set the stage for stronger institutional accumulation ahead of 2026.
Macro Parallels Reinforce Bullish Thesis
Meanwhile, Crypto Rover compared current market conditions to the 2020 Bitcoin breakout that followed the Trump administration’s CARES Act stimulus. With the Trump Tariffs $2,000 Stimulus Bill now approved, analysts argue the macro backdrop once again favors liquidity expansion, a catalyst that could fuel Bitcoin’s next vertical run.
If history “rhymes” as Rover suggests, the confluence of fiscal stimulus, reduced exchange reserves, and technical strength could align to propel Bitcoin toward the $140K–$150K zone over the coming quarters.
For now, the chart structure remains intact, and as long as Bitcoin holds above its rising support trendline, the long-term trajectory continues to point decisively higher.
