Bitcoin (BTC) briefly breached the critical resistance level at $74,000, generating renewed optimism among investors as key market indicators point to the potential for a bottom and further recovery for the leading cryptocurrency.
A potential increase to $108,000
Market analyst Ali Martinez attracted attention to a major development in a social media post on Monday, which noted that Bitcoin funding rates have turned negative. This particular signal has historically foreshadowed substantial relief rallies over the past three years.
Martinez added that current market sentiment reflects a state of “peak fear,” which often indicates that the local soil is close. Historical patterns show a consistent trajectory: when the majority pays to short Bitcoin, it typically signals a market recovery.
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The analyst highlighted several past examples where this pattern worked out effectively. For example, in December 2022, Bitcoin climbed from $17,800 to $24,800, a gain of 39%.
Similarly, as of March 2023, the cryptocurrency rose from $20,000 to $30,700, marking a 53% increase in price. The trend continued with notable jumps in August 2023 and beyond.
As this pattern continues for the cryptocurrency, where Bitcoin has historically shown an average gain of 46%, there is a possibility that the digital property could rise to around $108,000 for the first time since November last year.
Bitcoin whales return
In addition to funding rates, blockchain analytics company CryptoQuant has that too reported further bullish signs for Bitcoin. Recent analysis by the company indicates that BTC whale shares on exchanges have reached a six-year high.
An increase in this whale ratio often indicates a short-term trough, while peaks in the ratio typically mark the start of an upward trend. Currently, the percentage of retail investors is at a six-year low, indicating that larger players in the market are accumulating aggressively.
On-chain indicators support the idea that Bitcoin is poised for an upward move, with the price whale ratio reinforcing the idea that current price levels represent a bottom.
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In another observation on social media platform X (formerly Twitter), market expert Jesus Martinez pointed out the presence of an unfilled Chicago Mercantile Exchange (CME) gap between $80,000 and $84,000 for the leading cryptocurrency.
Nine out of ten CME gaps have been successfully closed since August 2025, prompting speculation that the cryptocurrency could experience an additional 13% increase if it immediately closes the gap at $84,000 in the near term.
At the time of writing, Bitcoin was trading just above $74,100, with gains of almost 4% and 8% in the 24-hour and seven-day time frames, respectively.
Featured image from OpenArt, chart from TradingView.com