Bitcoin has surged above $94,000 at the time of writing this article, driven by a broad wave of institutional buying and increased interest from retail investors, amid warnings of an impending potential price peak.
According to the analytics platform Santiment, the sentiment of 'fear of missing out' among small traders has increased after the rapid rise, which is often a signal preceding corrective movements. In contrast, large wallets have added over 50,000 Bitcoins since March, reinforcing the upward momentum.
CryptoQuant data also revealed that Bitcoin outflows from exchanges have reached their highest levels in over two years, indicating a shift among investors towards safe storage. The outflows of U.S. Bitcoin funds reached $2.68 billion in a week, reflecting a rise in institutional interest.
Technically, Bitcoin has surpassed a key resistance at $87,724, and indicators show the potential for continued upward movement with some short-term volatility.
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