Bitcoin reached a file excessive of just about $112,000 on Might 22 and has remained comparatively near that mark ever since, conserving traders on edge for a possible breakout.
Regardless of subdued market exercise, the Bitcoin Mixed Market Index (BCMI) signifies a shift in sentiment.
Accumulation Indicators
As of Might 29, 2025, the 7-day easy shifting common (SMA) of the BCMI has rebounded sharply to round 0.6, which, in accordance to CryptoQuant, suggests an early upside sign. In distinction, the 90-day SMA stays steady at roughly 0.45, reflecting a impartial zone and confirming that the market is just not but overheated.
The BCMI, which blends key metrics resembling MVRV, NUPL, SOPR, and the Worry & Greed Index, serves as a broader gauge of market temper. Thresholds spotlight extremes, values under 0.15 level to macro bottoms, whereas these above 0.75 trace at potential tops.
With profit-taking slowing and on-chain indicators bettering, the index hints at a attainable early accumulation section. Whereas broader participation stays cautious, the info suggests sentiment could also be quietly turning.
“The group continues to be ready – however the sign is already flashing.”
Additional validating this conduct, Santiment’s newest evaluation revealed a big pattern amongst mid-sized Bitcoin whales. The crypto analytics agency noticed that wallets holding between 100-1,000 BTC have proven the strongest historic correlation to Bitcoin’s worth actions over the previous 5 years. Within the final six weeks alone, this cohort has added 337 new wallets, collectively accumulating a further 122,330 BTC.
This sharp uptick in accumulation suggests rising confidence amongst seasoned traders and will sign a bullish undercurrent forming beneath the floor of present market situations.
“Pivot Zone” for Bitcoin
Bitcoin might be going through one other extended consolidation section if recent shopping for strain doesn’t emerge this week, in accordance with on-chain analyst Willy Woo. In a latest replace, Woo famous that whereas the broader market exhibits indicators of power, together with his Danger Sign trending downward, which implies buy-side liquidity is dominating, the short-term momentum is faltering.
The power of this bullish run from $75K to $112K is beginning to break down, he warned. The following few days are essential: an absence of follow-through from consumers could stall the rally and entice the market in sideways motion. Woo raised issues over latecomer speculators coming into lengthy positions whereas many holders sit on vital unrealized positive aspects, as highlighted by the Spent Output Revenue Ratio (SOPR).
If profit-taking intensifies with out ample spot demand, the market may retreat or stall. Woo believes the end result of this week’s spot market exercise will probably form Bitcoin’s route for the subsequent one to 2 months.
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