Bitcoin is showing signs of a more stable and sustainable rally, with new on-chain and market data suggesting that the current upward movement may have long-term staying power. Despite not yet reclaiming its all-time high, the latest rebound stands out for its strength and relative market calm, pointing toward a more mature and healthier bull market.
A Different Kind of Bitcoin Rally
According to a recent CryptoQuant report, Bitcoin’s current recovery lacks the typical signs of market overheating seen in previous cycles. Historically, every time BTC hit a new high, exchanges like Binance would experience sharp increases in market buy volume and funding rates—signals that often preceded steep corrections.
This time, however, those indicators are notably absent. Funding rates remain balanced, and market buy volume on Binance is actually tapering off, suggesting the rally is progressing without the frenzy typically associated with unsustainable price spikes. Rather than being driven by hype, the market is moving on steady demand and growing confidence.
Gradual Buy Pressure Points to Sustainability
While some might interpret the absence of aggressive buying as weakness, CryptoQuant argues it reflects a healthier market environment. Instead of quick spikes followed by sharp sell-offs, buying pressure is building slowly and consistently, driven by long-term investors rather than speculative traders.
Data shows that market buy volume has been on a steady rise since 2023, reinforcing the notion of a sustained bullish trend rather than a short-term surge. The measured pace of accumulation further supports the idea that Bitcoin’s recovery signals a healthier, long-term bull market trend.
Strengthening Fundamentals Support Further Gains
There are additional bullish signals on the macro and on-chain fronts. As noted by CryptoPotato, Bitcoin’s Realized Capitalization has hit a record $906 billion—marking four consecutive weeks of growth. Since May 8, BTC has attracted over $14.4 billion in new capital, with large holders (100–1,000 BTC) increasing their balances by over 122,000 BTC.
Even as many institutional ETFs remain cautious, BlackRock has grown its BTC holdings by 10,302 BTC, showing confidence in Bitcoin’s long-term potential. This steady capital inflow, combined with improving market sentiment, may prime BTC for a breakout—especially if it can hold above the key resistance at $104,731, with $107,757 as the next target.
What Could Fuel a June Rally?
External factors like better-than-expected tech earnings, reduced fears around AI capital expenditures, renewed political optimism tied to Trump’s campaign, and potential market inflows from upcoming FTX payouts could further fuel bullish momentum heading into June.
