Key Highlights:

• Bitcoin must maintain support at $114,000 for a successful recovery.
• A resurgence in spot volume and trading activity is essential for a continuous BTC price breakout.

Bitcoin (BTC) has seen a 10% increase since hitting a low of $103,500 on October 17, but momentum appears to stall around $115,000, suggesting low demand and on-chain activities are hindering progress.

Upward Movement and Support Levels

In recent data, BTC’s price has shown no clear strength, with significant resistance at $115,000. Analysts advocate for sustaining support at $114,000.

According to Swissblock, “This week is pivotal for confirming whether Bitcoin can maintain its footing.”

“For BTC to sustain upside continuation, fresh buying pressure is crucial to uphold the $114K support and help create a new bullish trend from there.”

Rekt Capital argues for the necessity of converting the $114,500 level into support after a retest to validate breakout conditions.

Demand and Activity Trends

Despite the urgency for Bitcoin to break through $115,000, low buyer interests and minimal network activity could limit progress. Currently, metrics indicate a decrease in cumulative volume alongside stagnant trading, signaling a cautious market.

Glassnode stated, “With fewer people trading, Bitcoin is likely caught in a range-bound phase unless demand rises.”

If Bitcoin can achieve stable trading volume and recover, it might lead to a price rally. Analysts from Cointelegraph also note that upcoming Federal Reserve rate changes may boost Bitcoin’s price prospects.

This source does not provide investment advice; readers are encouraged to research independently.