Bitcoin Sets New ATH Above $104,000, Yet Investors Don’t Want To Sell 🚀

Bitcoin recently achieved a new all-time high, reaching over $104,000. Despite this surge, on-chain data reveals investors are not eager to sell, as indicated by negative exchange netflows. This ongoing trend suggests bullish sentiment, as more Bitcoin is leaving exchanges than entering, hinting at long-term holding intentions.

The Bitcoin Exchange Netflow metric, which tracks the net amount of BTC moving in and out of exchange wallets, remains negative. This pattern during the latest rally contrasts with earlier trends where notable inflow spikes indicated selling activity.

The reluctance to sell, despite high prices, underscores a bullish outlook. However, if this trend persists, Bitcoin's upward momentum may continue. Nonetheless, significant investor profits could eventually trigger a widespread selloff.

Bitcoin's price saw a 7% rise, briefly surpassing $104,000 before a slight correction to $103,500. This performance follows a consolidation phase, reflecting strong market dynamics driving the recent price action.