Bitcoin Holds $100K for 40 Days as Bull Pennant Signals Possible Breakout

Highlights:

• Bitcoin price sustains levels above $100,000 for over 40 straight days
• On-chain data shows low realized profits, signaling minimal selling pressure
• A bullish pennant structure hints at a breakout ahead of the FOMC update

Bitcoin continues to trade above $100K for the 40th consecutive day, reflecting market strength despite weakening miner fees and tight long/short ratios. With a bull pennant pattern emerging, volatility is anticipated around the upcoming FOMC press conference.

Bitcoin Maintains Strength Amid Uncertainty

Bitcoin has stayed above the $100,000 mark for 40 straight days, signaling strong investor conviction. Despite macroeconomic and geopolitical uncertainty, BTC has shown resilience by consolidating tightly within a potential bull pennant.

Source | X

This long-standing price level has acted as a psychological anchor, preventing large sell-offs despite low miner revenues and narrowing profit margins. Miner revenue from fees, as reported by Bitcoin Magazine Pro, has now dropped to its lowest point since March 2012.

Bitcoin Miner Revenue (Fees) | Source : Bitcoin Magazine Pro

However, the focus remains on the current market structure, where a breakout or breakdown could be imminent depending on macroeconomic cues.

Technical and On-Chain Metrics Suggest Low Selling Pressure

Data from CryptoQuant indicates net realized profit levels on the 7-day moving average remain under $1 billion. This level is similar to October 2024’s market correction and far below January 2025 peak activity.

BTC Net Realized Profit/Loss 7DMA | Source : CryptoQuant

The subdued realized profit environment suggests traders are not yet incentivized to exit, which may support Bitcoin’s ongoing consolidation. Furthermore, on-chain analysis by Darkfost shows minimal warning signs that would otherwise precede a correction.

Meanwhile, the compression zone identified by analyst Titan of Crypto reflects a symmetrical pennant, often considered a continuation pattern. If this breaks to the upside, the next leg could extend the rally.

Market Ratios Flat as FOMC Press Conference Looms

According to TedPillows, the long/short ratio on major exchanges, including Binance and OKX, is near a 50/50 split. This balanced positioning reflects trader indecision as the market awaits a signal from the U.S. Federal Reserve.

Source | X

The FOMC press conference, scheduled within hours, could trigger volatility based on Chairman Powell’s tone. 

Nevertheless, dovish hints on future rate cuts could trigger a bullish response, especially given the tight consolidation and low fees.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.