Bitcoin’s price has surged, breaking above the $113,000 mark on significant trading volume. The climb represents an increase of over $2,500, suggesting potential for further substantial breakouts.
Underpinning this rally is robust market participation. Daily trading volume surged to 12,160 BTC during the move. Technical indicators also support the bullish momentum, with Bitcoin’s Relative Strength Index (RSI) rising to 67.41.
Market behavior revealed a notable divergence: retail investors largely exited positions amidst price uncertainty. Conversely, large-scale investors, known as whales, engaged in significant accumulation. This buying pressure from institutions and high-net-worth individuals appears to be a key driver behind the recent surge.
The sustained breakout above the $113,000 threshold is further supported by key momentum indicators, pointing towards the potential continuation of bullish trends. While current market sentiment and technical setups remain favorable, traders and investors are advised to monitor volume fluctuations, RSI levels, and critical price points to gauge the rally’s sustainability.