Bitcoin’s Delightful Rise: Calm, Cool, and Collected – A Bull Market Like Never Before!

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My dear reader, a most remarkable event has transpired in the world of Bitcoin! On the morning of July 11, amidst the far-reaching calm of the Asian trading hours, Bitcoin reached an astonishing high of $118,399. Indeed, this marks yet another milestone in its long and illustrious bull market, but fret not, for this exuberance seems to be of a rather measured and serene nature—unlike the rather rowdy and frenzied peaks we have witnessed before. A much-needed change, I daresay! 😊

As our wise friend Avocado Onchain so eloquently put forth in his analysis on June 11, there are several indicators to suggest that this current surge is not the overindulgent, fevered rush one might expect. The MVRV ratio, for instance, compares Bitcoin’s market value to its realized value, and stands at a modest 2.2. Quite a departure from the chaotic highs of 2.7 that we observed during the March and December 2024 highs—those were truly times to be wary, I assure you. How delightfully sensible of it to remain so calm!

One cannot help but notice a subtle yet significant shift in investor behavior. During earlier, rather volatile bull markets, short-term holders—those who owned their BTC for less than a month—accounted for a hefty 30% of the market. Today, however, that number has dipped to a mere 15%. Less speculation, less drama, less volatility. Oh, how civilized the market has become! And what a relief to us all, I’m sure. 😌

Indeed, the very absence of sell pressure is equally as telling. The Short-Term Holder SOPR, which measures the extent to which recent buyers take profits, has not spiked dramatically. A rather dignified behavior, I must say. Even miners—those who are often the first to sell when the market peaks—seem to have found a quieter, more reflective disposition. The Miner Position Index is drifting lower, and, astonishingly, some mining firms are accumulating Bitcoin rather than hastily parting with it. Such restraint is most commendable, one must admit.

As for retail investors—those excitable folk who often race in when things appear most thrilling—they have yet to make their entrance, according to the latest CryptoQuant analysis. Their “Spot Retail Activity Through Trading Frequency Surge” remains suspiciously absent, indicating that they have not yet returned to the market. Could it be that they are waiting for further signs of encouragement, or perhaps they have learned the value of patience? How utterly uncharacteristic of them! 😆

Historically, it is retail frenzy that signals the peak of a bull market, but given that institutions and exchange-traded funds continue to fuel this rally, the retail crowd’s absence may suggest that the top is still far from us. How delightfully restrained they are! Could it be that they have learned from their past excesses? Only time will tell.

As we look ahead, one must consider the short-term support levels, which could provide valuable insight into the market’s future direction. The $106,500 and $101,200 zones—representing the average cost basis for holders who purchased Bitcoin in the past three months—are being carefully watched by analysts. Should Bitcoin maintain its position above these levels, the upward trend may very well continue. A dip below, however, may induce some short-term selling—though, paradoxically, this could also attract new buyers. Quite the conundrum, wouldn’t you say?

In conclusion, dear reader, this rally appears more stable, more enduring, and certainly more composed than those that have come before it. With steady institutional interest, calm on-chain signals, and retail investors still keeping their distance, Bitcoin may indeed have room to rise without the tumultuous chaos that so often accompanies market tops. One can only hope, for the sake of our collective peace of mind. 😌🚨

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2025-07-11 10:51