Bitcoin’s Rally Supported by Whale Activity and Key Indicators
- Bitcoin (BTC) reached a new all-time high above $125,000, with recent trading sessions showing a price of $122,373.
- On-chain data from Binance indicates significant buying activity, with net buying pressure surpassing $500 million on certain days.
- The imbalance ratio hit a high of 0.23, indicating that BTC buy orders were approximately 23% higher than sell orders on Binance.
- A Z-score of 0.79 was recorded, reflecting above-average buying activity in the market.
These indicators suggest that institutional buyers and whales are actively participating in the market, supporting Bitcoin’s price rally with real liquidity rather than speculative trading.
With average daily volatility remaining low and strong market confidence evident, Bitcoin’s upward trend appears sustainable in the near term unless a significant sell-off occurs. (Source)
