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>>Bitcoin buying is surging to levels not seen since the ETF launch, according to a key indicator.

Bitcoin buying is surging to levels not seen since the ETF launch, according to a key indicator.

crypthub

2 days ago

Recent Bitcoin Price Action

Bitcoin experienced a notable correction, falling from a peak of $126,200 to around $120,000, triggering liquidations and market volatility. This pullback occurred after days of strong momentum and anticipation for further price increases. Despite the temporary setback, the overall market structure remains bullish, indicating potential for future gains.

US Investor Accumulation

Data reveals significant Bitcoin accumulation by US investors, particularly through regulated platforms and ETFs. This trend underscores sustained spot demand, contrasting with short-term trader liquidations. The Coinbase Premium Gap, now at a historically high level, signals strong localized buying pressure.

Market Outlook and Support Levels

Bitcoin is currently stabilizing around $122,500 following the correction, with support found above $120,000. Analysts are watching for sustained buying pressure to push above $125,000, potentially initiating a new phase of price discovery. Continued institutional demand, led by Coinbase inflows, remains a key factor in the market's direction.