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- Bitcoin rises to $111,104, with a 1.86% increase and trading volume hitting $62.36 billion, a 48.09% surge.
- Realized Cap up by $4.4B, confirming real capital inflows and supporting the ATH above $112,000.
- Trading volume jumps 90%, with futures open interest at $79.21 billion, indicating increased institutional interest.
As of press time, Bitcoin is trading at $111,104, representing a 1.86% increase over the past 24 hours. The level of trading was at $62.36 billion, which was a sharp 48.09% increase over the same period. This increase in volume implies that investors gained confidence, as well as improved participation in the markets. The price of Bitcoin has increased by 1.26% in the previous week, maintaining its robust movement upwards.
Source: CoinMarketCap
Glassnode highlighted that the Realized Cap of Bitcoin is up by $4.4 billion. This indicator points to the real inflows of capital, and it ensures that the recent price rise is justified by the real market sentiment. Realized Cap will not increase solely due to speculations, but when there is a trade on coins at higher prices. The rally of Bitcoin has been strengthened by the new all-time high above $112,000.
Source: X
Institutional Investor Interest
CoinGlass data shows that the trading volume of Bitcoin has increased by an outstanding 90% since last month, to $99.24 billion. The Bitcoin futures open interest increased by 7.06% to reach new levels of $79.21 billion. The BTC OI-Weighted Funding Rate stands at 0.0013%. These numbers indicate an increased amount of interest in Bitcoin and denote a heavier presence of institutional investors in the market.
Source: CoinGlass
Alpha Crypto Signal revealed that Bitcoin has indeed broken out of its bull flag pattern, as expected by its price movement. This breakout is consistent with earlier anticipations, and it positively portends a bullish view. This pattern followed by investors is already in profit. The market is still on the upside as long as Bitcoin does not go below the breakout zone.
Source: X
Bitcoin MACD Signals Strength
The Relative Strength Index (RSI) Rate of Bitcoin is 61.77. Although this indicates that Bitcoin is slightly overbought, it is not in the terribly overbought zone. This implies that the market might have some small pullbacks, but the trend is still positive. The RSI suggests that Bitcoin has a chance to grow further, but it is necessary to exercise caution.
The Moving Average Convergence Divergence (MACD) gives additional support for a robust bullish trend. As of the current moment, the MACD value is 330.08, which reflects the positive trend. The MACD histogram, which stands at 1,254.79, shows that Bitcoin should still move upwards. These signs indicate that the recent price movement is not a one-time jump but a long-term pattern.
Source: TradingView
The recent performance of Bitcoin indicates good technical and market fundamentals. The rising trading volume, upsurge in Realized Cap, as well as ribbon MACD, all point towards a further rise in Bitcoin. The sentiment within the market is quite positive regarding the further rise of Bitcoin.
