3 Explosive Reasons Bitcoin Could Hit $107K Next

3 Explosive Reasons Bitcoin Could Hit $107K Next

The Bitcoin price prediction market is heating up as BTC gains strong momentum. Key metrics suggest Bitcoin could soon surge toward $107K. With price breaking through major resistance levels, both technical indicators and on-chain data point to a bullish continuation. In this article, we explore three explosive reasons Bitcoin could hit $107K next, using data from Bitcoin Magazine Pro and CryptoQuant.

1. MVRV Bands Suggest a Healthy Reset

One of the most reliable indicators of Bitcoin market strength is the MVRV ratio. According to Bitcoin Magazine Pro, the MVRV Bands currently show a strong recovery underway. This ratio compares Bitcoin’s market price to its average cost basis.

Notably, the 1.74-level in the MVRV Bands has acted as support. It held firm during the yen carry trade unwind in August 2024 and again on April 8. Bitcoin bounced from that level, pushing the MVRV up to 2.14.

As a result, this rebound signals the end of a bearish phase. Historically, similar MVRV recoveries have led to strong price rallies. Therefore, Bitcoin could soon approach the $107K mark, backed by this technical strength.

Source : bitcoinmagazinepro

2. More Bitcoin Holders Are Back in Profit

Additionally, CryptoQuant’s Percent Supply in Profit metric offers another bullish signal. As of now, 87% of BTC supply is in profit based on the 7-day moving average. That figure had fallen to 74.8% a few weeks ago. The bounce from this long-term mean shows renewed optimism.

When most BTC holders are in profit, the market often continues to rise. Consequently, traders grow more confident and are more likely to hold or reinvest. This behavior tends to support upward momentum. Therefore, this trend reinforces the outlook that Bitcoin could reach $107K soon.

Source : cryptoquant

3. Price Breakout Clears the Path to $107K

Furthermore, BTC recently cleared two major levels: $93.1K and $95.3K. The first represents the short-term holder realized price. The second was the top of a five-day consolidation range. Importantly, this breakout was backed by rising trading volume, which strengthens the move.

Analysts like Willy Woo have predicted that Bitcoin could climb to $108K. Moreover, liquidation heatmaps reveal dense liquidity near $107K, increasing the chances of a short squeeze. If BTC retests $95.4K and finds support, swing traders may enter and drive the price even higher.

Source : TradingView

Conclusion: Bitcoin Price Prediction Looks Strong

In conclusion, MVRV Bands and profit-supply metrics both reflect a healthier and more confident market. Bitcoin is climbing with solid momentum. As such, many analysts expect $107K to be the next key target. With bullish sentiment, strong support, and on-chain confirmations, BTC may soon enter its next major rally.