Summary: Bitcoin Must Defend This Key Support For $180,000 Year-End Target, Analyst Says

Bitcoin finds itself at a critical juncture, with analysts setting an ambitious $180,000 year-end target. Achieving this significant milestone, however, hinges on the cryptocurrency's ability to firmly defend its key support levels. Fresh off a new all-time high above $123,000 and currently consolidating around $119,000, Bitcoin's on-chain metrics present a nuanced picture. While a recent rise in exchange reserves suggests some profit-taking activity, large holders and miners continue to accumulate, indicating strong long-term conviction. This accumulation is further supported by a declining Unspent Transaction Output (UTXO) count, a historical sign of reduced selling pressure. Moreover, US-listed spot Bitcoin ETFs have consistently seen positive inflows for four consecutive months, accumulating over $18 billion since April 2025 (as per the source text) and now commanding over $151.6 billion in total assets. From a technical standpoint, the immediate support rests at $116,400. A drop below this could lead to a deeper correction towards the $110,000-$112,000 range. Conversely, maintaining above $116,000 is crucial for preserving the bullish structure and setting the stage for a push towards $124,000-$130,000. Analysts emphasize that defending the $110,000 level is paramount for Bitcoin to sustain its broader bullish trend and keep the $180,000 year-end target within reach. Despite some cautionary signs of distribution from long-term holders, the short-term holder MVRV suggests there's still ample room for price growth. The path to $180,000 remains viable, provided Bitcoin's core support holds strong.