Bitcoin's recent surge could continue, according to data from blockchain activity and derivatives markets, as selling pressure remains low and institutions show strong belief in the cryptocurrency.
Bitcoin’s recent record rally is primarily fueled by restrained profit-taking, concentrated institutional options positioning, and strong conviction from long-term holders. This suggests the upward momentum is backed by structural demand rather than speculative activity driven by retail investors. Derivatives data reveals significant bets from sophisticated participants clustered in out-of-the-money call options. These trends indicate a departure from typical speculative surges. Realized profits over the last 30 days are notably lower compared to previous cycle peaks, signaling limited selling pressure. Market-maker gamma is low, reducing volatility and limiting forced hedging. Concentration in $120,000–$140,000 call options points to institutional bullish targets. Long-term holders maintain realized profit margins significantly below historical exhaustion thresholds, implying they are holding onto their Bitcoin. A key support level is observed at $110,000, with $120,000–$140,000 as potential targets for accelerated buying. Monitoring realized profits, option activity, and long-term holder behavior is crucial. To assess rally sustainability, track realized profits, analyze options interest, and monitor market maker gamma and long-term holder realized margins. These factors will provide crucial insight into the longevity of the current upward trend.
