Bitcoin hits all-time high

Isn’t that somehow poetic Bitcoin interrupted the new maximum of all time on Pizza Bitcoin day??

First time ever, BTC has exceeded $ 110,000Which means that these two legendary pizzas would now be worth more than $ 1.1 billion.

That’s strange emotional. IDK. I feel like … a moment of full circle.

So what pushes btc so high? A couple of great things.

First, now Signed trade agreements with China and the UK, which Mitigated global economic tension This measured markets (including cryptocurrencies).

Trade wars cool → risk appetite grows → bitcoin for its own.

Second, institutional investments are constantly growing.

Since last Wednesday, Bitcoin ETF attracted another $ 2.2 billion in influx.

More demand = higher price pressure upwards.

And you know which one is the best part? The rally is still not over.

We talked about it yesterdayand Kryptoquant associate Crypto Dan stacking.

It was overthrown using several key indicators that help to the extent whether the market overheated – or if there is still room for growth.

1/ Financing rate

These are traders on fees pay when they use levers on the futures market.

When tall, it usually means that everyone bets on prices that are increased (aka they go for a long time) and the market becomes overly optimistic.

But right now, although long positions are increasing, the funding rate is still relatively low compared to the earlier bull running = The future market does not show a type of overheating that usually leads to correction.

2/ short -term transaction activity

It gives a feeling of how much “fast money” enters the market, such as new retailers who persecute the rally.

And right now, that activity does not spread the way it did during the past maximum of all time.

In short: the momentum is being built, but it is not flooded with impulsive merchants (yet).

3/ short -term owners are not panic sales

Usually, when Bitcoin hits a new tall, a lot of people who recently bought to try to take advantage of profit.

But this time? Not so much. Even the whales are cold.

So yes, as it pulls are possible, this ride still feels more like the middle of the end 🚀