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- Bitcoin reached 118.8 000 $ 11. All these signals that the rally has not yet ended.
Bitcoin [BTC] traded for $ 117,783, after a fresh historically maximum of $ 118,856, that day, that day, he clicked fresh historically As the Bull’s sentiment began to drive the market up.
Google Trends showed that Bitcoin The theme in the United States was still not popular and was far from the peaks of 2020 or even November 2024.
No retail madness in sight
Source: Cryptoquant
The trend of lack of retail euphoria was visible in the retail activity on the spot.
Using the trade frequency and position size to understand whether retail participation increases is a useful tool for understanding whether smaller market participants are flooded.
According to Cryptoquant, this metric did not see the retail increase from March 2024. It also reflects earlier cycles: in February 2021, retail jumped in and BTC soon encountered a refusal near $ 60,000.
Further evidence that the bitcoin market has not overheated
Source: Cryptoquant
In the post Cryptoquant’s knowledgeanalyst Avocado_onchain They showed how the market sentiment and dynamics were noticeably different from the previous peaks of the market.
The MVRV ratio exceeded 2.7 in March and December 2024. On July 11. However, reading was around 2.2 – a signal of healthier market conditions.
Source: Cryptoquant
Another important allusion came from Age Bands UTXO, which analyzes how long every bitcoin remains unused.
The data showed that 15% of the BTC offer belonged to short-term holders (STH)-the top holds the coins per month. For context, this picture sat almost 30% at the tops of the previous cycle.
Source: Cryptoquant
In addition, STH SOPR showed that the holders did not sit on large profits. This was another clue with minimal sales pressure from the Bitcoin Wallets.
Miners still stacking – another reason why bulls will not happen
Source: Cryptoquant
Finally, the miners position index was also down from November 2024. This showed reduced sales pressure of miners.
Mining companies tend to accumulate bitcoins instead of sales, showing that they expected prices to continue to rise.
Overall, there were no signs of exhaustion and widespread profit on the market. There was a hope that the price of bitcoins would be higher in the coming months and the bull was not over yet.
