$BTC
BullRun Confirmed ?
Here are some details which everyone should know 👍
Bitcoin (BTC) Rose To As High As $94,700, Buoyed By Optimism About A Potential Easing Of US-China Tariff Tensions And A Significant Influx Of Institutional Capital.
However, On-Chain Analytics Platform Glassnode Warns That The Market Has Not Yet Fully Moved Into Bullish Territory.
In A Recent Report, Glassnode Noted That US Spot Bitcoin ETFs Saw A Record $1.54 Billion Net Inflow On April 22, Indicating A Wave Of Institutional Demand. This Surge Helped BTC Briefly Reclaim Its Short-Term Holder (STH) Cost Floor Of $92,900, A Critical Threshold That Typically Separates Bearish And Bullish Market Phases.
During The Rally, Approximately 5% Of Bitcoin’s Circulating Supply Changed Hands, With The Percentage Of Supply In Profit Increasing From 82.7% To 87.3%. Despite This, Glassnode Noted That Some Short-Term Holders Were Taking Profits, As Evidenced By The Increase In Realized Gains And The STH P/L Ratio Reaching 1.0, A Level Typically Associated With High Exit Risk.
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