10x Research: Bitcoin is still in an upward cycle, with the next target at $122,000

ChainCatcher message, 10x Research published that on-chain data shows Bitcoin is systematically flowing from early investors to high-net-worth individuals, hedge funds, and corporate treasuries. The current rise is not driven by retail frenzy, but rather by large holders, with controlled volatility and asset rotation. Historical experience indicates that the real risk is when long-term holders stop selling. Currently, their holdings are still increasing, and the cycle is not over. Institutions expect Bitcoin's next target price to be $122,000.