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Bitcoin Bulls Charge: Is a New All-Time High on the Horizon?

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Introduction


Bitcoin has recently reclaimed the$106,000 level after a 2% market gain, sparking optimism among investors about the possibility of a new all-time high (ATH). The current market environment is characterized by a “liquidity sandwich,” where significant liquidity clusters exist both above and below Bitcoin’s price, specifically around$107,000 and$104,000. This tight trading range means that a breakout in either direction is possible, but recent activity from whales and derivative traders suggests a bullish momentum is building.


Analysis of trading patterns reveals that retail and whale investors are actively participating in the market. Notably, the Trading Frequency chart for Bitcoin futures shows green bubbles, which historically have preceded major rallies and new ATHs. The Spot Exchange Whale Ratio has also surged to 0.6, indicating increased activity from large holders. While this metric alone doesn’t confirm a bullish or bearish trend, the recent price gains and heightened whale involvement point toward a positive outlook for Bitcoin.


The Net Unrealized Profit and Loss (NUPL) ratio remains above 0.5, signaling that most investors are currently in profit and are choosing to hold rather than sell. This behavior suggests that if holders maintain their positions and bullish sentiment persists, Bitcoin could soon break out of its current range and potentially set a new all-time high. The combination of technical indicators, trading activity, and investor sentiment all support the possibility of a significant upward move in the near future.

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