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Bitcoin price shows a recovery trend, achieving a 1.6% rise within 24 hours, reaching $107,428. This rebound occurred after last week's significant market fluctuations and profit-taking that had touched near the $100,000 mark.
While the price of Bitcoin is still 4.2% below its all-time peak of $111,000 set last month, the weekly trend shows a 3.3% increase, indicating that market confidence is gradually recovering. Data analyst Amr Taha found that several on-chain metrics aligned with current market activity.
These key indicators include the buy-sell ratio on the Binance platform, UTXO age distribution bands, and the realized market value of long-term holders. All three indicators show that market participants are in an accumulation phase, and market sentiment is turning optimistic.
Taha observed that Binance's buy-sell ratio just reached 1.1, which measures the proportion of market buy and sell orders on the platform. A ratio above 1 indicates that more investors are willing to buy at market prices rather than sell, reflecting strong buyer confidence. Taha pointed out that when there is sufficient trading volume to support it, this signal usually indicates a price rise.
The change in buying and selling pressure over the past 90 days is also a strong indicator and is currently near an all-time high of 0.02, indicating that there is room for the market to accumulate further. The breakout activity on the 1D-1W UTXO band suggests that newly traded Bitcoin is being held rather than sold, meaning that many new investors are choosing to hold on to their coins for profit.
Long-term holders have achieved a market capitalization of more than $56 billion, indicating that committed holders control a larger percentage of the Bitcoin supply. These coins have remained unchanged for 155 days, reflecting the long-term confidence of investors.
Another positive signal is that the Binance platform has received approximately $550 million in stablecoin inflows in the last few hours. Unlike derivatives exchanges, inflows in spot exchanges usually indicate that investors are ready to directly purchase crypto assets.
As multiple chains show positive signals, the market is focused on whether Bitcoin can once again challenge its historical high.