Key Takeaways:
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The price of Bitcoin has withdrawn, but strong ETF flow, high network activity and whale accumulation suggest BTC is on track for $ 140,000.
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Bitcoin ETF spots have seen $ 2.9 billion in net inflows in two weeks, reflecting previous rallies.
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Decline in exchange balances and a rising amount of Z-Score transaction suggests an increase in overall demand.
Bitcoin (Btc) The price dropped by 1.4% in the last 24 hours. It exchanged 6% below its All-Time High $ 109,000reached on January 20. However, many major, onchain and technical metrics suggest that the reversal of Bitcoin has not finished.
Spot bitcoin etf inflows mirror past btc rally
Bitcoin’s latest recovery was accompanied by strong appetite for the investor for the area Funds exchanged by Bitcoin Exchange (ETFS), which recorded $ 2.9 billion in net inflows over the past two weeks.
The chart below shows that after the Launch In the US Bitcoin ETFS -based area in January 2024, these investment products found net inflows of nearly $ 8.5 billion between PEB. 13, 2024, and March 13, 2024, which peeked a record single-day flow of $ 1.045 billion on March 12, 2024.
Similarly, between November 6, 2024, and December 16, 2024, the combined -day -to -day flow hits $ 5.7 billion, aligned with a 60% bitcoin rally from $ 67,000 to $ 108,000 at the same time.
If ETF flows continue to continue, Bitcoin is likely to continue Its uphill towards new all-time highs.
Bitcoin Market Volatility Index: Risk-on
Increased flow In the spot bitcoin ETFS signal high risk-in sentiment, such as evidence of a collapse in the CBOE Volatility Index (VIX), which measures 30-day expectations of volatility in the market.
Bitcoin network economist Timothy Peterson Highlighting that the VIX index has dropped significantly to 18 from 55 in the past 25 days of trading.
A VIX mark below 18 indicates a “risk-on” environment, which favors assets such as Bitcoin.
Analyst said:
“This will be a ‘risk to’ environment for predicted future.”
Peterson’s model, with a 95% accuracy in tracking, predicted a target of $ 135,000 Within the next 100 days if VIX remains low.
Continuing the strong accumulation of bitcoin
Strengthening the sentimental sentiment is the whales of Bitcoin, which increases their holdings even when the price rallies. Glassnode data Shut up Bitcoin Accumulation Trend Score (ATS) to 1 (see chart below), indicating intense accumulation of large investors
According to Glassnode, the spike in the rating mark indicates a move from distribution to accumulation in almost all cohorts. This shift reflects a similar accumulation pattern observed in October 2024, which preceded the increase of Bitcoin from $ 67,000 to $ 108,000, released by the US President The success in Donald Trump’s election.
Additional data from the Santiment show that the addressing addresses between 10 BTC and 10,000 BTC have accumulated 83,105 more BTC in the past 30 days.
In a post of May 13 on X Social Platform, Santiment Says,
“With aggressive accumulation from these large wallets, it can be several hours until the coveted $ 110K throughout the Bitcoin level has been damaged, especially after the US and China pause.”
Overall, this is a positive signing as a continuous accumulation of promotions of accumulation among the cohort of investors.
Related: Bitcoin looks ‘ridiculous -laugh’ as Bulls attempted the $ 2T Market Cap Flip – Analyst
The decline in Bitcoin’s balance with exchanges
The BTC’s balance in exchanges reached a six -year -old 2.44 million BTC on May 15. According to the chart below, more than 110,000 BTCs have been transferred to exchanges in the last 30 days.
Reducing BTC balances to exchanges means investors can remove their tokens in self-custody purses, indicating a lack of intention to sell as a hope of rising prices in the future.
Increasing activity in the network
Bitcoin’s potential to rise is supported by increasing network activity, as Highlighting Through the crypto investor Ted Boydston on a May 15 post in X.
The volume of bitcoin transactions measures z-score the difference between the current transaction volume and the average. It is often used to measure network activity and market interest.
The chart below shows the scale increased dramatically from the negative zone and approaching 1. A rising volume of Z-Score transaction, especially when approaching or exceeding 1, is historically associated with bitcoin price rallies.
“This is a good sign for speeding up the price of Bitcoin,” Boydston said, and added:
“Bitcoin should be full bull once Z-Score violations 1.”
BTC Rounded Bottom Pattern targets $ 140k
From a technical point of view, the price of Bitcoin is formed by a rounded chart pattern on the day -to -day chart (see below). The bulls are now focusing on pushing the price above the chart governing pattern neckline at $ 106,660.
A day -to -day candle near the upper level will confirm a bullish breakout from the rounded bottom formation, which accumulates BTC to discovering the price with a technical target of $ 140,000, or an increase of 37% from the current level.
The KaMag -Kaba -child index -child -child.
As Cointelegraph reported, the BTC price was damaged by a bull flag in the weekly time, Project of a rally to $ 150,000.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
