Bitcoin Briefly Surpasses $106K Before Pullback, Analyst Sees Stable Momentum
Bitcoin briefly surpassed $106,000 before pulling back to $104,153, reflecting a 1% decline in 24 hours. Despite this dip, Bitcoin remains close to its all-time highs after significant gains in recent weeks. Analyst Avocado Onchain noted a shift in Bitcoin's behavior, indicating a healthy bull market. Unlike previous surges that saw sharp increases in market buy volume and funding rates, the current rebound shows stable funding rates and declining buy volume, suggesting cautious optimism. On-chain data indicates a gradual increase in market buy volume since 2023, reflecting sustained investor interest. The market structure appears favorable for potential upward momentum, with less risk of abrupt pullbacks compared to previous overheated conditions.
