## Bitcoin Selling Pressure Eases: Is $124,000 Next? Bitcoin's on-chain indicators suggest a potential surge to $124,000, fueled by declining selling pressure. According to Cointelegraph analysis, the Stablecoin Supply Ratio (SSR) is mirroring levels observed during previous BTC bottoms in mid-2021 and early 2024. This indicates a resurgence of stablecoin liquidity, a critical ingredient for the final bull run of this cycle. ## Stablecoin Reserves Signal Bullish Momentum Data shows Binance's stablecoin reserves are increasing, while Bitcoin reserves are decreasing. This trend suggests a shift from short-term trading to long-term holding strategies, potentially leading to the depletion of selling pressure. ## Technical Analysis: Breaking $107,000 Resistance Currently, BTC/USD is encountering resistance at $107,000 on the daily chart, forming the upper trendline of a falling wedge pattern. A decisive daily close above this level could invalidate the current downtrend and pave the way for a rally towards the $124,000 target. Increased institutional adoption and continued ETF inflows could further support this bullish outlook. ```