Bitcoin $BTC Breakout: $103K Hit as Whales and ETFs Fuel Buying Frenzy

Bitcoin has surged past the $103,000 mark for the first time since January, confirming a strong bullish breakout from its previous consolidation zone. The recent price spike is driven by heightened accumulation from institutional investors and large-scale holders.

Data from blockchain analytics platforms reveals a surge in market activity, with over 344,620 new wallets created. This further indicates a rebirth of interest on the part of retail players, which is most probably spurred by the sharp price increase and the rising institutional goodwill towards the market.

Significantly, all Unspent Transaction Output (UTXO) age bands are now in profit, marking a rare on-chain milestone. This development shows that all classes of Bitcoin $BTC

holders, from day players to long-term investors, are currently making profits.

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