Matrixport analysts continue their series of bullish posts on BTC. They write that even though Bitcoin is now near 106,000, retail is still out of the market.

Volatility is at its lowest in recent years. Funding is barely positive. Retail leverage has sharply decreased over the past few months. The chart shows a retest of the level of $105,725. There is a potential breakout into the ATH zone on the horizon. This is not a 'heated market' - this is 'quiet' accumulation, where long-term institutional players are taking the lead: funds and private clients who are simply buying and holding:

'This bullish market for #BTC continues without retail. And, frankly, we don't care who is buying - the main thing is that the price is going up.'