On-chain data collectively raises a red flag:
First, let's look at the futures market - the open interest has historically surpassed 80 billion USD for the first time. What does this indicate?
The streets are filled with hot money rushing in with leverage!
Next, the exchange data is even more stimulating: Bitcoin's net inflow has plummeted by 80%, and the retail investors are all gripping their chips tightly, with selling pressure disappearing completely.
An even more explosive bombshell comes from Texas, USA - the Bitcoin Reserve Bill has officially passed!
This is equivalent to giving institutional funds a green light, allowing the big shots on Wall Street to finally stockpile Bitcoin openly.
Combined with USDT exchange recharge volume skyrocketing to 46.9 billion USD, this wave of liquidity frenzy is practically rubbing the bull market into the ground.
The bears are probably hiding in the bathroom, crying in despair - the bulls' defense line is as hard as diamonds, and the big players are crazily buying at some mysterious price level (see the chart!).
At this rate, 120,000 USD is probably just a rest stop; hold on tight and don't get thrown off the ride!
