What is happening with BTC after creating a new ATH from an Onchain perspective.

You are probably wanting to understand what is happening with BTC after it reached the peak of $123,218 on July 14. In the heatmap chart, it can be seen that wallet groups and whales are still actively accumulating more, the Accumulation Trend score has reached the maximum absorption score of 1, and the UTXO chart shows that just 1 week after the ATH, there are 2 very high accumulation price zones at $116,000 and $119,000 with nearly 1M BTC accumulated here. From a short-term perspective, I believe that by the end of the month there will be a max pain adjustment for the call put option orders in the price range of $115,000 before continuing to rise. I will consider entering an order at the price of $115,000.

Note: This is a personal view, not investment advice.

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