Sideways trading hides secrets, the greed index has sounded the alarm.
Bitcoin (BTC) has been stuck in sideways trading for the past ten days, but exchange reserves continue to decline, signaling supply tightness. The current market greed index has soared to 74, indicating extremely optimistic investor sentiment.
Although BTC's dominance has briefly receded, it remains firmly within an upward channel. Over the past five days, BTC.D has continued to rise, indicating that the short-term explosion of altcoins may be difficult to sustain, and Bitcoin remains the absolute leader in the market.
Surge in call options, whales buying the dip ignites the market.
Recently, the trading volume of Bitcoin call options has surged, with whales increasing their holdings by 53,700 BTC in a single day, setting a record for the largest net outflow since August. Exchange reserves have dropped to their lowest level since August 2018, with signs of accumulation from the big players, indicating that a new wave of skyrocketing prices is about to begin!
Are the bears scared? Historic bull market signals re-emerge!
Compared to 2021, the current short selling willingness of bears has significantly weakened, with a lack of short squeeze action, suggesting a strong bullish consensus in the market. Additionally, BTC has reclaimed the key cost price for 3-6 month holders ($98,800), a signal that previously triggered violent rallies in October 2023 and October 2024!
