Timothy Morano
May 16, 2025 05:24
According to GlassNode, Bitcoin’s price has reached $ 100 million due to the accumulation of Spot Market and the inflow of ETF.
According to GlassNode’s latest insights, Bitcoin (BTC) has experienced significant meetings, mainly $ 104,000, mainly due to the strong demand of branches and ETF markets. The surge in this price is due to strong accumulation stages in the derivatives market and shortly short pressure.
The demand for the spot market leads the rally in bitcoin.
The rally between $ 35,000 and $ 104,000 has been proven to be in the field market due to a significant accumulation. The main accumulation area is confirmed between $ 93,000 and $ 95,000, providing short -term support. Major exchange, such as Coinbase, has a strong net purchase pressure, and the sales pressure of Binance has been alleviated but indicates a ‘purchase’ spirit.
In addition, the inflow of ETFs peaked at $ 339 million a day at the end of April and contributed greatly to upward momentum. This inflow has slowed to $ 55 million a day, but it continues to support the strong trend.
The derivatives market is behind
Despite the strong field market performance, the derivatives market struggled to maintain speed. Open interest in the permanent future market has shown contraction due to short pressure, which has cleared many leverage short positions. This open interest decrease, 336,000 BTC at 370,000 BTC 336,000 BTCs suggest a healthier market with less leverage.
The rate of financing of major exchanges remains neutral, and there is a lack of excessive long -distance leverage, which is a positive signal of the strong driving force.
Institutional interest is still strong
Institutional investors have continued to show their interest in Bitcoin, especially through the SPOT ETF. The weekly average influx of ETF wallets reached $ 380 million a day, reflecting strong institutional demands similar to the previous market rally in 2024.
The option market shows optimistic feelings
The options market also showed a shift to strong feelings. One month 25 Delta SKEW has dropped to -6.1%, and traders speculate more about the upward movement and strengthen the optimistic outlook of Bitcoin.
Overall, Bitcoin’s rally is mainly on site at $ 104,000, and there is a powerful hot chain accumulation and landscape. While the derivatives market catches up, the current market epidemiology proposes a strong trend that has continued with institutional support.
To get additional insights, visit the GlassNode website.
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