Bitcoin Briefly Surpasses $106K Before Pullback, | Crypto News
Bitcoin has resumed its upward trajectory in the early hours of Monday, briefly surpassing the $106,000 mark before encountering resistance and experiencing a minor pullback. As of the time of writing, Bitcoin is trading at $104,153, representing a 1% decline over the previous 24 hours.
Despite this dip, the asset stays in a sturdy place general, having posted vital positive factors over the previous a number of weeks and retaining proximity to its all-time high ranges. This price motion follows a temporary consolidation part late final week, during which Bitcoin paused after climbing above $104,000.
Amid this price efficiency, CryptoQuant analyst Avocado Onchain just lately shared his interpretation of the pattern based mostly on derivatives and spot market knowledge.
Market Buy Volume and Funding Rates Show a Shift in Rally Behavior
In his current evaluation, “Bitcoin’s Rebound Without Overheating Is a Clear Sign of a Healthy Bull Market,” Avocado Onchain pointed to a shift in Bitcoin’s conduct around key price milestones.
In earlier breakout makes an attempt, he famous that Bitcoin’s surge to new all-time highs was typically accompanied by a sharp rise in Binance’s market buy quantity and funding charges, both of which signaled overheated situations. These situations usually resulted in short-term corrections, as merchants locked in earnings and leverage unwound.
However, the analyst noticed that the present rebound is unfolding in another way. Funding charges on Binance stay steady, and market buy quantity is trending downward, which Avocado interprets as a signal of restraint relatively than weak point.
He argued that, in contrast to the sharp speculative rallies seen in prior phases, the current atmosphere displays cautious optimism and sustained accumulation. According to him, this more tempered restoration might be much less weak to abrupt pullbacks and as an alternative help a more steady path to potential new highs.
과열 없는 비트코인 반등, 건강한 강세장의 신호(Bitcoin’s Rebound Without Overheating Is a Clear Sign of a Healthy Bull Market)
이번 시즌 비트코인 가격이 신고가를 갱신할 때마다 바이낸스 시장가 매수 거래량과 펀딩비는 크게 상승하였고, 그 후 과열로 인한 조정기간이 찾아오는 유사한… pic.twitter.com/c0JCPzgbfY
— Avocado (@avocado_onchain) May 19, 2025
Bitcoin On-Chain Trends Point to Continued Accumulation
Avocado additional emphasised that although shopping for exercise isn’t surging at the identical price as in prior runs, the general pattern in market buy quantity has been progressively growing since 2023. He referred to on-chain knowledge that exhibits a constant uptrend, suggesting that longer-term investor urge for food stays intact.
With sentiment still recovering from current corrections and derivatives markets showing much less overheated, he recommended the market construction is favorable for extra upward momentum in the close to to mid-term.
While the analyst didn’t make a particular prediction relating to when Bitcoin would possibly surpass its earlier file, he highlighted that the present market situations don’t resemble earlier overheated peaks. This, he famous, makes for a more constructive setup and doubtlessly more sturdy positive factors if the pattern continues.
Featured image created with DALL-E, Chart from TradingView
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