Bitcoin Breaks ATH – Determine the reason for the start of Rally’s BTC! star-news.press/wp

Main meals

• Bitcoin’s currency reached $ 118.8 thousand on July 11, but the data on the series showed a low retail activity, moderate MVRV ratio, low -term profit, and a decrease in the Miner website. All of this indicates that the gathering has not yet ended.

Bitcoin (BTC) was traded at $ 117,783, after it recorded the highest new level ever of $ 118,856 earlier that day, When the bullish feelings began to lead the market upward.

Google Trends He showed that Bitcoin is still uncommon in the United States, and was far from the tops of 2020, or even November 2024.

There is no madness on the horizon

source: Cryptoquant

The direction of the lack of action in retail was visible in the instant retail activity.

Using the trading frequency and the size of the position to understand whether the retail sharing is increasing, this scale is a useful tool in understanding whether the participants in the smaller market have been immersed.

According to Cryptoquant, this scale has not seen a retail boom since March 2024. This also reflects previous sessions: In February 2021, retail has jumped, and BTC soon met with rejection near 60 thousand dollars.

An additional evidence that the Bitcoin market was not heated

source: Cryptoquant

In a publication Cryptoquant visionsAnalyst Avocado Show how market morale and dynamics were remarkably different from the previous market peaks.

The MVRV 2.7 percentage in March and December 2024 exceeded July 11, although the reading is about 2.2 – a sign of health market conditions.

source: Cryptoquant

Another important braid of UTXO Age, which analyzes the duration that each bitcoin remains unknown.

The data showed that 15 % of BTC supplies belong to short-term holders (STH)-governorates carrying coins for less than a month. For context, this number sat near 30 % in the peaks of the previous session.

source: Cryptoquant

Moreover, STH SOPR showed that their holders did not sit on big profits. This was another evidence of the minimum pressure pressure from the profit achievement activity from the Sth Bitcoin portfolios.

Miners continue in stacking – another reason that the bulls have not been completed

source: Cryptoquant

Finally, the Miner website has been heading down since November 2024. This showed a decrease in the pressure pressure from miners.

Mining companies tend to accumulate Bitcoin instead of selling them, which indicates that they expect prices to continue to grow.

In general, the signs of market exhaustion and profit were not widely here. There was hope that the price of Bitcoin would be higher in the coming months, and the bull’s run has not yet ended.