New Bitcoin Record At $118K: On-Chain Clues Reveal This Rally Is Different
2025-07-11 08:05:28
Main Idea
Bitcoin (BTC) has reached a new all-time high above $118,000, with on-chain data indicating potential for further growth due to reduced short-term holder activity and declining exchange balances.
Key Points
1. Bitcoin surged to a new all-time high above $118,000, gaining over 6% in the past day.
2. The MVRV ratio during previous peaks (March and December 2024) exceeded 2.7, but current data shows short-term holders (under one month) make up only 15% of the market, down from 30% previously.
3. Exchange balances have dropped by 315,830 BTC (21%) in the past four months and by 1.88 million BTC (61%) since July 2020, reducing the risk of sudden mass sell-offs.
4. Traders are holding Bitcoin tightly, with a 20% price rise since June 22nd, and sell-side activity remains muted.
Description
Bitcoin (BTC) has surged to a fresh all-time high above $ 118,000, after gaining more than 6% over the past day. Despite this, on-chain data suggests the current rally remains far from overheated and instead hints at further growth potential. Room for Further Growth During the previous peaks in March and December 2024, the MVRV ratio climbed above 2.7 as speculation intensified. The current high, on the other hand, comes with a more moderate reading of 2.2 and reflects a steadier market environm...
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