Bitcoin has reached a new price level of $90K, reflecting optimism in market sentiment. On-chain activity also increased, with notable shifts in trading strategies.
A Turning Point for Bitcoin
Bitcoin has seen a mix of profit-taking and aggressive long positioning, with traders expecting further rises. Binance and Bitmex exhibited the highest long rates, indicating strong bullish sentiment.
Whales and Sharks Bolster Their Positions
Bitcoin continues to attract major investors: wallets holding over 10 BTC have increased their assets to 234.15K BTC over the past year, showcasing their confidence in the cryptocurrency's future growth potential.
Will Liquidity Define the Peak?
Global liquidity resumed growth in 2024, actively supporting Bitcoin's price. Central banks are expected to inject approximately $20 trillion into the global economy over the next 12-15 months, bolstering Bitcoin's market position.
Despite current corrections, market fundamentals suggest continued growth for Bitcoin supported by major investors and expected liquidity increases.
