Bitcoin Holds $113,968 as Analysts Track $102,484 Support at the 38.2% Fibonacci Level

Bitcoin trades near $113,968 with key Fibonacci support expected around $102,484.

Analysts note retracements at the 38.2% Fibonacci level as strong bounce zones for BTC.

On-chain data records $7.883B locked in Bitcoin DeFi with 811K active daily addresses.

Bitcoin has shown steady upward momentum on the weekly chart, supported by retracements aligning with Fibonacci ratios. Current trading levels near $113,968 reflect consolidation after recent gains, while analysts track support zones forming at $102,484. Market data continues to show structured pullbacks, with the 38.2% Fibonacci level acting as a key reference point.

Fibonacci Retracements Define Market Structure

According to analysis prepared by Titan of Crypto, retracements around the 38.2% Fibonacci ratio have marked strong bounce areas. In 2024, Bitcoin corrected near $48,000 before resuming upward momentum, while another retracement around $76,000 confirmed the same structure

Each retracement coincided with renewed buyer activity that maintained Bitcoin’s upward channel. The most recent correction places price near $113,968, with potential support expected around $102,484

This level aligns with both the Fibonacci zone and historical support. Trading volumes during retracements remained steady, reflecting consistent participation as prices approached these zones. Analysts continue to track this structure as a decisive level for the next market move.

Broader Market Conditions and Technical Outlook

Bitcoin’s market capitalization is recorded at $2.209 trillion, with daily trading volumes showing continued liquidity across exchanges. On-chain data from DeFiLlama confirms total value locked in Bitcoin DeFi stands at $7.883 billion, reflecting stable participation. Additional data shows over 811,000 active addresses in 24 hours, pointing to broad network activity.

Source: BitBull(X)

According to BitBull, support retesting during a bull run is always a good thing, as $BTC did in April before hitting a new ATH. The current retracement near the 38.2% Fibonacci ratio aligns with this observation, as support areas often provide a foundation for continuation.

Bitcoin remains within an ascending channel, with resistance near $128,000–$135,000. If price maintains stability above $102,484, the technical setup supports a potential rebound. Analysts continue to monitor whether the 38.2% retracement acts as the next bounce zone for BTC.

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