- Bitcoin on Friday increased $ 118,000, which was powered by strong institutional accumulation.
- The long -term holder of bitcoin remains under the Nupal MT Euphoria zone, which highlights further capacity.
- BTC funding rates remain around neutral levels, indicating low FOMO-powered activity.
Bitcoin (BTC) scored a $ 118,000 points for the first time in its history on Friday. Despite the rally, Bitcoin has seen very few signs of fear of missing out (FOMO) activity among traders in the last two days, indicating that the top crypto property has a higher value increase in the current market cycle.
Bitcoin holders show reluctance to take advantage despite all high rally
According to Sosovalue data, the US Spot BTC Exchange-Treded Funds (ETF) on Thursday has briefly increased by $ 118,000 by bitcoin in the last 24 hours after a $ 1.18 billion net inflow. Strong flow combined with rising prices has promoted the total net property of $ 141 billion previous products at the time of publication.
Despite the recent peak of bitcoin, on-chain matrix suggests that market optimism is better than previous cycles.
Long -term holder (LTH) NET is at an unrealistic profit and loss (NUPL) metric 0.69, slightly below 0.75 thresholds, which is usually associated with euphoric market conditions, Blockchain Analytics firm Glasode is said in an X post on Friday. The current cycle has seen only 30 days above that level compared to 228 days during the previous bull cycles.
BTC long -term holder Nupal. Source: Glasanode
While the current NUPL level has been highlighted that long -term holders are already feeling profits, they are yet to reach extreme sales levels, as have been seen at the top of the previous price. This indicates the possibility of further reverse if the LTS continues to accumulate.
Similarly, short -term holders (STHS) have urged to lock in profits despite pushing on a record high of bitcoin. The short-term holder realized the value-155 days used to track the average acquisition cost for coins conducted for less than 15 days-currently, according to a cryptoctive report on Friday, is hovering around $ 100,000.
The BTC short -term holder realized the value. Source: Cryptoctive
Typically, with the current rally of bitcoin, STHS should lock in parts of its unrealistic profit. However, reluctance from this cohort reflects a comprehensive decision, similar to LTS. Analyst Cryptom wrote in the report, “The market does not show signs of overheating with excessive sales from profitable short -term holders.”
Cryptocvent analysts also highlighted a significant increase in Bitcoin Open Interest, which increased to $ 81.4 billion above the previous peak of $ 112,000 on Friday after a BTC rally on Friday. Despite this growth, the funding rate remains near neutral levels, indicating a low fomo-powered environment among traders.
“This means that investors are not opening aggressive long positions using high leverage with FOMO,” the report said.
This restrained behavior suggests that, despite climbing new heights of bitcoin, the market spirit remains below the high levels seen in November and January, which is not yet inspired by excessive speculation as high runs for all time.
At the time of Bitcoin publication, trading near $ 117,400 up to 1.3% in the last 24 hours.
