The real value reached 890 billion USD as whale accumulation surged by 949% in a week.
Bitcoin is close to 100K USD, but weak on-chain usage reduces the hopes for a breakout.
The real value of Bitcoin [BTC] has soared to a new record high of 890.74 billion USD, marking the third consecutive week of record highs.
This index, representing the total value of the currency based on their last movement, shows continuous capital flow and increasing trust from investors.
At the time of writing, BTC is trading at 99,755 USD, up 2.91% in the past 24 hours.
This trend reflects strong confidence in the long-term potential of BTC, as both long-term and short-term holders accumulate amidst market uncertainty, indicating a structural shift in sentiment.
Source: CryptoQuant
Prominent Bitcoin whales are back
Over the past seven days, the net capital flow of large BTC holders has skyrocketed by 949.67%, despite a 30-day trend decline of 90.99%.
This short-term surge highlights renewed interest from whales, indicating a positive positioning ahead of a potential breakout.
Furthermore, the net capital flow into exchanges indicates that capital is moving out of exchanges, reinforcing the long-term holding perspective rather than immediate sell-offs.
Source: IntoTheBlock
Derivative data signals significant market bets
BTC's derivative market activity is on the rise. Futures contract volume has increased by 8.01% to 104.94 billion USD, while open interest has risen by 7.58% to 68.87 billion USD.
The options market also shows a positive trend, with volume and open interest increasing by 18.14% and 3.58%, respectively. These figures suggest that traders are building leveraged positions in anticipation of volatility.
When combined with increasing demand from the spot market, this reinforces the likelihood of a significant directional move. Market participants seem to be preparing for a potential breakout from the current resistance area.
Source: CoinGlass
Although derivative data shows a positive trend, on-chain valuation indicators display inconsistency. The NVT ratio fell by 2.81% to 26.91, indicating that prices are outpacing trading volume.
The NVM ratio has dropped sharply by 44.49%, indicating reduced network activity compared to market capitalization. Additionally, the Stock-to-Flow ratio decreased by 14.28%, signaling weaker scarcity after the halving.
These changes indicate that although capital flow is increasing, basic network activity needs to keep pace to sustain long-term price increases.
Tension at 100K USD
At the time of writing, BTC is trading near an important psychological and technical threshold at 100,000 USD. The Bollinger Bands indicate increased volatility, while the stochastic RSI has entered the overbought zone, above 70.
If the bulls succeed in breaking through the resistance at 101,175 USD, momentum could increase significantly. However, failure to surpass this level could lead to a temporary downturn, especially given the ongoing on-chain fundamental contradictions.
The upcoming daily closing sessions will determine whether the trend will continue to rise or consolidate further.
Source: TradingView
Conclusion
With BTC reaching a real value of 890.74 billion USD and capital flow from whales increasing by 949%, the market is clearly trending bullish. Derivative activity also shows heightened speculative interest, reinforcing momentum.
However, on-chain valuation indicators are inconsistent and the historical resistance at 100,000 USD suggests that a breakout is not guaranteed without stronger fundamental factors.
However, if the current accumulation and optimism continue, BTC is highly likely to surpass the 100,000 USD mark in the near future.
Source: https://tintucbitcoin.com/gia-tri-bitcoin-dat-890-ty-usd-buoc-dem-100k/
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