Bitcoin Don Hit Record High Pass $111K As Spot Market Buyers Dey Dominate Amid Bullish CVD Reversal
Bitcoin (BTC) don shoot to one new all-time high over $111,000, showing say the spot market don get new bullish momentum. CryptoQuant data show say Spot Taker Cumulative Volume Delta (CVD) don turn positive after months of selling, meaning say aggressive buyers don dey dominate pass sellers. This kain change mark one new shift from earlier this year when negative CVD and selling pressure push BTC down to about $76,000.
Institutional inflows, strong ETF demand, and solid spot market accumulation dey support Bitcoin price, with big buying interest including options positions for higher strike prices. Long-term holders dey resist to take profit, while funding rates remain neutral, indicating say the rally base more for physical accumulation than leveraged speculation.
Short-term volatility still dey, as analysts dey observe profit taking at new highs, but both new and old investors no dey panic sell. One $2.1 billion sale of Perpetual Preferred Stock by one big crypto strategy firm to get more BTC fit act as another bullish catalyst. As of the latest update, BTC dey trade near $108,553, slight drop from its high, but spot market demand remain strong, suggesting say the uptrend fit continue.
Bullish
Bitcoin don hit new record high pass $111,000, e be because strong spot buying and positive change for CVD indicator, wey show say bullish momentum wan dey again. The return of aggressive buying, strong institutional and ETF inflows, spot-driven accumulation, plus say long-term holders no dey take big profits all make the bullish outlook steady. Even though some profit-taking dey and short-term volatility dey, demand still strong and leverage no too much, so e reduce the risk for sharp corrections. The planned $2.1 billion investment for BTC by one big firm still dey strong the bullish case. Overall, both technical and fundamental factors dey show say price pressure go continue to push up.