Liquidity continues to be strongly concentrated around the current Bitcoin price, placing the asset into a narrow trading range.
Sharks and derivatives traders are betting on a price increase for Bitcoin, creating strong momentum in the market.
In the past 24 hours, Bitcoin (BTC) has regained its upward trend, surpassing the $106,000 mark after recording a 2% increase across the market.
Analyses indicate that capital inflows from both spot and derivatives investors have significantly increased, opening up prospects for a major price surge in the near future.
TinTucBitcoin has detected a prominent fractal pattern, suggesting that a new historical peak for BTC may not be far off.
Liquidity tightly constraining Bitcoin's price
According to a report from CoinGlass, Bitcoin is in a 'liquidity sandwich' model, where large liquidity clusters form both above and below the current price.
These clusters are price zones with many unfilled limit orders, acting as magnets pulling prices towards them, significantly impacting market volatility.
Source: CoinGlass
Specifically, the liquidity zone above is around $107,000 and below is at $104,000. This creates a tug-of-war situation, where a breakout or sharp correction could occur at any time.
To determine the next direction, TinTucBitcoin has focused on the trading behavior of sharks and spot activity.
Is a new historical peak approaching?
At the time of analysis, the Bitcoin Futures Trading Frequency chart shows the activity of the retail market. This indicator uses green bubbles to represent the positivity of retail traders on derivatives exchanges.
According to TinTucBitcoin, two past occurrences of such bubbles coincided with Bitcoin reaching new historical peaks with strong pump phases.
Source: CryptoQuant
A similar scenario is likely forming, as FOMO sentiment spreads and capital inflows tend to push prices towards new highs.
Spot Exchange Whale Ratio analysis found this index surged to 0.6 – indicating prominent buying activity by sharks in the spot market.
Although this threshold has not fully confirmed an upward or downward trend, strong buying pressure along with recent price increases suggests that sharks seem to be 'stacking' Bitcoin in anticipation of a breakout.
Source: CryptoQuant
Sharks – the group of wallets holding large amounts of cryptocurrency – can create waves or manipulate prices when they take strong buying/selling actions in the market.
Will Bitcoin maintain its upward momentum to reach new highs?
The Bitcoin Net Unrealized Profit and Loss (NUPL) index is above the 0.5 level, demonstrating that the majority of investors are currently in profit with their positions.
Currently, this index has slightly decreased to 0.551. This reflects that although profits have been taken, most investors are not yet ready to sell off and are maintaining their HODL positions.
Source: CryptoQuant
If weak profit-taking trends continue, market sentiment stabilizes, combined with strong demand, it's very likely that Bitcoin will establish a new historical peak in this cycle.
Source: https://tintucbitcoin.com/bitcoin-bat-tang-chuan-bi-lap-dinh-moi/
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