Bitcoin Hits Record Weekly Close Above $106K: On-Chain Data Reveals Scarcity and Long-Term Strength

Bitcoin achieved its highest-ever weekly candle close at $106,516 on Sunday evening, July 2. On-chain researcher Dan noted that BTC has closed above $106,439 only once, representing just 0.02% of its entire trading history. Closures above $100,000 have occurred on only 40 days total. As of Monday, Bitcoin is trading at $102,924. The $100,000 level is being closely watched as a key psychological and technical zone. Broader ecosystem strength is evidenced by elevated transaction volumes, address growth, and continued inflows into Bitcoin-focused ETFs. Long-term holder confidence remains high, reinforcing Bitcoin's role as a digital store of value.