Bitcoin analysts are observing that the cryptocurrency's recent rally to $112,000 might be losing momentum, indicating the late stage of the bull cycle. Key factors for a breakout above the $112,000 peak include a recovery in spot and onchain transfer volumes, necessary for increased investor engagement. Current data shows a 32% decline in onchain transfer volume, down to $52 billion from $76 billion, alongside a drop in spot trading volume to $7.7 billion. Analysts maintain that flipping the resistance levels between $108,000 and $110,000 into support is crucial for BTC to generate upward momentum, with a push above $109,000 considered a positive technical indicator. Despite existing bullish trends, stronger trading activity metrics and demand are deemed essential for Bitcoin to climb to new all-time highs, with potential targets identified above $165,000 if resistance levels are successfully broken. In summary, substantial trading volume and a solid price support base are vital for Bitcoin to maintain its upward trajectory.

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