Bitcoin Holds Above $111K With Rising Volume and No Clear Resistance, Suggesting Possible Bull Market Start

Key Points

1. Bitcoin is trading consistently above $111,000, supported by a 35.51% increase in trading volume, reaching nearly $60 billion.

2. Bitcoin's market capitalization stands at $2.19 trillion, with a fully diluted valuation of $2.33 trillion, highlighting its dominance in the crypto market.

3. On-chain data shows 100% of Bitcoin holders are approaching the maximum supply of 21 million coins, with 19.89 million in circulation, emphasizing scarcity.

4. Derivatives market activity indicates strong bullish momentum, with $211.46 million in short liquidations and open interest climbing to $78.75 billion.

5. Options trading volume surged by 69.50% to $5.06 billion, further supporting the bullish trend.