Bitcoin News Today: 7% Dip or $141K Breakout? Bitcoin Speculators Dictate BTC Price Targets

Glassnode warns Bitcoin could dip 7% to $110K before a $141K breakout, as short-term holders control key BTC support levels.Key TakeawaysBTC support gap: Glassnode highlights a $110K–$115K “air gap” with little cost-basis support.Downside risk: BTC price could retest $110K to “fill” the gap before moving higher.Upside target: If BTC breaks higher, $141K could become the next major resistance where STH profit-taking accelerates.Short-Term Holders Are Steering BTC’s Next MoveBitcoin (BTC) is trading around $117,875, but according to Glassnode’s latest The Week Onchain report, short-term holders (STHs) now control critical price levels.Defined as those who hold BTC for 155 days or less, STHs typically create price support where they enter the market. But Glassnode warns the current setup shows both a gap and a ceiling for BTC.Glassnode Flags $110K–$115K “Gravity Zone”BTC surged quickly from $110,000 to $115,000 this month, leaving little room for new buyers to establish positions.“Noticeably, there remains an air-gap of volume just beneath the spot price, from $115k to $110k, a result of price rallying through the region without much opportunity for coins to transact along the way,” Glassnode explained.This air gap acts like a magnet — markets often “retest” such zones to confirm demand.“Not all air-gaps like this one must be back-filled, but a gravity does exist there, and the market may want to re-confirm if support will step in,” Glassnode added.If BTC does retest this level, it could mean a 7% dip from current prices, revisiting $110K, according to Cointelegraph.Speculator Profit Zones Define BTC’s CeilingWhile STHs create support zones on the way down, they also create resistance zones on the way up.Glassnode’s model uses standard deviation bands to forecast potential profit-taking levels for these speculators.If BTC breaks past $120K and reenters price discovery, Glassnode sees $141K as the next profit-heavy zone:“Should the market break convincingly higher, the $141K region is likely to present the next major zone of resistance where sell-side pressure may intensify rapidly,” the firm said.The Setup: Dip Before Rip?In short:If BTC fails to hold $115K, it may retest $110K to “fill” the support gap.If BTC rallies past $120K, STH profit-taking could cap gains near $141K — but a confirmed breakout would clear the path for a stronger move.