CryptoQuant: If Bitcoin closes above the 109,000 to 112,000 range this week, the upward trend is expected to strengthen

Short-term Bitcoin holders significantly influence market sentiment, attracting new investments. Currently, Bitcoin trades at a crucial level between 109,000 and 112,000.

If Bitcoin maintains its position above 112,000, the upward momentum may gather strength; however, falling below could lead to a market correction.