Five Positive and Two Negative Signals for Bitcoin as It Nears Record Highs

Bitcoin is nearing its all-time high again with a price increase of $30,000, only 2% away from breaking its previous record from January. Several bullish indicators include significant Bitcoin accumulations by whales, led by Michael Saylor's Strategy and followed by Metaplanet, with purchases worth over $250 million.

ETF inflows have been showing green for most of the past month and accumulation can be seen across nearly all BTC wallets, indicating a shift in market sentiment. However, negative indicators suggest caution.

The daily RSI shows Bitcoin is in overbought territory, and miners, the backbone of the blockchain network, have been selling off over $250 million worth of the asset recently.