Bitcoin continues to trade firmly above the critical $110,000 threshold, bolstered by significant accumulation from both institutional whales and retail investors. Key on-chain indicators reinforce a bullish market structure for the cryptocurrency.
Network activity has expanded markedly, with new addresses increasing by 5.75% and active addresses rising 8.15%. Zero-balance addresses—often indicating wallet creation for future holdings—surged 15.12%, reflecting growing user engagement.
Bitcoin’s scarcity metrics strengthened considerably, as the Stock-to-Flow (S2F) ratio jumped over 66% to 1.0614 million. This underscores heightened asset scarcity relative to new supply issuance.
Spot exchanges reported consistent outflows totaling $53.68 million to cold storage wallets, signaling persistent long-term holding behavior among investors.
Notably, both large holders (>10K BTC) and smaller wallets (<1 BTC) maintained accumulation patterns throughout the past two weeks. This synchronized dip-buying across investor classes highlights broad-based confidence in Bitcoin's value proposition.