While Bitcoin maintains its momentum in the bull market, market intelligence firms analyze the dynamics behind this rise. CryptoQuant CEO Ki Young Ju pointed out that Bitcoin's current price levels are progressing under bull market conditions.
Impact of Coinbase on Bitcoin’s Value Increase
Last weekend, Bitcoin experienced significant volatility, rising from $84,000 to $94,000. However, due to tariff effects and market imbalances, the price retreated back to around $83,000. Ki Young Ju noted that large-scale investors play a crucial role behind these fluctuations. He emphasized the active role of Coinbase whales in these fluctuations, indicating that exchange flows significantly influence Bitcoin's trajectory.
Network Security and On-Chain Data
During this rising period, Bitcoin's network security has notably increased. Indicators such as hash rate and MVRV demonstrate that Bitcoin is solidifying its market position. Ki Young Ju pointed out the close relationship between continued investments in the Bitcoin network and price movements, suggesting that selling pressure could emerge when capital inflows into the network cease.
Future Prospects for Bitcoin
Market observers continue to evaluate Bitcoin's future direction in light of this data, emphasizing the need to closely monitor technical analyses. Factors such as large investor movements and network security will continue to shape Bitcoin's market dynamics.
Bitcoin's rise in the current bull market is driven by various factors, including major investments and heightened network security. The continuation of this trend will depend on further movements by large investors and the stability of network indicators.
