Bitcoin breaks ATH – Identifying why BTC’s rally is just getting started!
2025-07-12 08:08:16
Main Idea
Bitcoin's recent rally is supported by bullish sentiment, lack of retail frenzy, and reduced selling pressure from miners, indicating the market is not overheated and the uptrend may continue.
Key Points
1. Bitcoin reached a new all-time high of $118,856, driven by bullish market sentiment.
2. There is no significant retail frenzy, as Spot Retail metrics show no surge since March 2024, unlike previous cycles.
3. The MVRV Ratio at 2.2 and UTXO Age Bands showing 15% of BTC supply held by Short-Term Holders suggest a healthier market compared to prior peaks.
4. Miners are holding onto their BTC, as indicated by the downward trend in the Miner Position Index since November 2024, reducing selling pressure.
Description
The signs of market exhaustion and widespread profit-taking were not here for Bitcoin despite the swift short-term rally.
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