Bitcoin’s surge toward the $120,000 threshold shows no significant profit-taking activity from short-term holders, signaling sustained bullish momentum according to key market indicators. On-chain metrics reveal the Spent Output Profit Ratio (SOPR) remains below aggressive profit-realization levels, indicating investors’ confidence in further price appreciation.
Derivatives markets reinforce this stability with funding rates hovering near neutral territory. This balanced sentiment suggests controlled optimism without excessive leverage, historically a precursor to sharp corrections. The moderate participation further indicates a healthy market structure unimpaired by speculative overheating.
CryptoQuant analysts emphasize short-term holders’ restraint in realizing profits at current prices, a historically positive omen for continued upside. Market observers unanimously point to SOPR readings and funding rates as critical real-time barometers for Bitcoin’s trajectory.
Investors are advised to monitor these indicators closely. Persistent SOPR stability alongside neutral funding rates may signal prolonged bullish conditions, while deviations could forewarn of sentiment shifts in the ongoing rally.