🔹 Futures aren’t overheated

The annualized futures premium is sitting at a chill 7%. Back in January, it was a sizzling 15%. Translation? There’s no excessive leverage fueling the current move.

🔹 Spot inflows tell the real story

From May 15 to 20, U.S. spot Bitcoin ETFs saw $1.37 billion in fresh inflows. That’s not paper money — it’s real cash coming into the market. Bulls are putting their money where their mouth is.

🔹 Low short liquidations = no panic

Compare this: May 9 had $538M in short squeezes. This time? Just $170M. That means price is climbing without forcing mass liquidations — much more organic and stable.

🔹 No single exchange is overheated

Remember BTC premium in January? That imbalance is gone. Prices are aligned across exchanges — a sign of a more balanced, efficient market.

🔹 The Fed’s soft hand is good for crypto

Weak demand for Treasuries + ongoing liquidity from the Fed = a solid setup for risk-on assets like Bitcoin. Macro winds are blowing in our favor.

🔹 MVRV-Z Score is just warming up

Historically, bull markets started when this indicator began to rise and peaked when the 111-day SMA crossed 2× the 350-day SMA. Guess what? We’re just at the beginning. No guarantees — but it’s another solid checkmark in Bitcoin’s favor. $BTC