Why Bitcoin’s ATH isn’t forcing traders to sell – KEY data suggests…

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• The recent Bitcoin rally has been met with an unusual investor reaction, as the profit passage remains minimal and the purchase volume remains mild. There may be pressing the offer on the horizon, with available bitcoins on the stock exchanges falling to a low market.

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Bitcoin [BTC] Over the last week, it has seen a significant increase, for the first time closed at a new weekly maximum of $ 109,226, and then created a historically highest maximum of $ 118,856 at the time of writing.

Interestingly, these assemblies did not cause the typical behavior of investors-it is only a small profitable. In fact, more traders appear to be bull, though not too much.

Ambrypto analysis points to historical trends, but one thing is clear: sentiment on the market remains strongly bull.

Short-term holders refuse to sell-what is going on?

The chain data shows that investors accept unconventional approach during this rally.

According to Cryptoquant, withHold-Term Term (STHS) holders who have accumulated bitcoins at an average price of $ 100,315, now have a profit of about 18%, but still have to sell.

These holders usually keep the BTC for less than 155 days and are known for its rapid profit.

The graph below emphasizes how sth usually behaves when Bitcoin hits a new maximum. Historically, they begin with slow distribution, followed by a period of renewed accumulation.

In this case, neutral sopris (output profit expenditure) remained to measure activity to achieve profit.

There were no strong accumulation or distribution signals, indicating that STH is willing to hold longer than usual.

Derivatives on the market Calm – no fomo in sight

The derivative market also reflects this limited optimism. According to Cryptoquant, the financing rate is currently at 0.01.

This points to modest bulls, contracts slightly prefer long, but without any signs of extreme sentiment or fear of missing (FOMO).

This further supports the idea that market participants are cautious, even in the middle of the new maximum.

Will FVG Bitcoin pull back?

When Bitcoin previously broke over $ 111,980, he left what is called a real value (FVG) – zone where orders remained unoccupied.

Price later reassessed this gap, reflected, but could not maintain an extended rally due to sales pressure.

A similar FVG now exists between $ 11522 and $ 111,980. If historical patterns are played, Bitcoin could repeat this zone.

However, if the sale of pressure remains low – as is currently – and retailers with sth and derivatives maintain a bull attitude, Bitcoin could continue up.

In this case, FVG can act as a launchpad for another leg up and potentially push BTC for its recent maximum maximum.

Cooking supply by supply?

It seems that the bitcoin press appears in an unusual way.

The availability of bitcoins on the stock exchanges is still decreasing and the dynamics between the accumulation of the long -term holder (LTH) and the issue of miners indicates the demand for assembly.

Glass node Data shows that LTH is getting bitcoins faster than miners release a new offer.

This trend points to a strong offer under the market. During the period of high demand, investors usually are reluctant to sell unless prices are higher – set a phase for further pressure up to the price of BTC.