Bitcoin’s record $107K monthly close sets the stage for a run toward $130K
On-chain profits surge as market sentiment heats up without signs of overheating
Institutions like Metaplanet double down, fueling Bitcoin’s long-term bullish case
Bitcoin’s recent monthly close above $107,000 has reignited bullish sentiment, fueling expectations of a parabolic move toward $130,000.
Despite some short-term price pullbacks, analysts believe Bitcoin is far from its peak, as strong institutional buying and rising network profits reflect a solid foundation of underlying strength.
Q2 Gains Fuel Q3 Optimism
Carl Moon, a popular crypto analyst, highlighted Bitcoin’s 30% gain in the second quarter alone. He believes the real bull phase hasn’t even begun. According to Moon, the current setup hints at a much stronger rally ahead, especially as Q3 historically performs well for crypto assets.
Meanwhile, on-chain metrics are beginning to mirror the early stages of euphoric market behavior. Glassnode data shows that realized profits on the Bitcoin network recently hit $2.46 billion in a single day.
The seven-day moving average reached $1.52 billi…
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