Bitcoin Rally Not Over Yet, Binance Whales Behind New ATH

2025-10-21 15:32:27 Classification：Digital Currency read(792)

Funding rates remain slightly positive,Speculate virtual currency reflecting restrained use of leverage by traders. Open interest is rising in sync with price, not because of new leveraged positions, but due to organic spot demand.

ETF inflows continue to act as a powerful engine for price appreciation. Since mid-April, over $49 billion has poured into Bitcoin ETFs, signaling steady institutional appetite.

Matrixport analysts note that these inflows, combined with the absence of speculative behavior, make this breakout notably more sustainable than previous cycles.

Retail Missing the Run, but Fundamentals Back the Climb

Retail investors, often quick to flood in during parabolic moves, remain significantly underexposed this time. UTXO analysis shows that only 15% of Bitcoin is held by short-term investors (those who bought in the last month), compared to 30% during the last ATH.

Moreover, Short-Term Holder SOPR indicates little profit-taking pressure, meaning recent buyers arent rushing to exit positions.

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