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The cryptocurrency market witnessed a slight increase of 0.22%, bringing its total value to $3.43 trillion as the day commenced. Trading volume surged to $129 billion, marking an overnight increase of nearly one-fifth. The Crypto Fear and Greed Index stands at 68, categorizing the market as being in the greed zone. Meanwhile, the Altcoin Season Index remains at 23, indicating Bitcoin’s (BTC) preeminence. Despite short-term volatility, on-chain data strengthens the bullish cycle.
Market Dynamics Sustain Bitcoin’s Dominance
The inflow of new capital into the cryptocurrency market continues to maintain Bitcoin’s dominant position. As the total market value teeters on new record thresholds, the 19.6% rise in volume indicates sustained interest from both institutional and individual investors. The elevated levels of the Crypto Fear and Greed Index clearly reflect risk-taking appetite in investor psychology, while the low Altcoin Season Index confirms the focused attention on Bitcoin 
$104,953. The tight price movements in the short term suggest that the market is anticipating the next directional breakout.
According to analyst Axel’s “Smart DCA” model, all four buy signals identified in the current bullish cycle have produced positive returns. The most challenging threshold was marked by the first trigger at $16,000, coinciding with the bear phase’s bottom. Subsequent cost bases have proven the strategy’s effectiveness despite fluctuating volatility. This phase also demonstrates that long-term investors are holding onto their assets, with the distribution phase yet to commence, despite price pressures.
On-Chain Data and Short-Term Price Outlook for Bitcoin
Data from CryptoQuant reveals that since Bitcoin hit $97,000, both short-term and long-term investors have seen their realized cost bases incline upwards. The seven-day change rate for long-term holders reached a cycle high, indicating that experienced holders are suppressing profit-taking desires and restricting supply. As the holding period extends, the market structure strengthens, and volatility is absorbed within the upward trend.
On the price front, Bitcoin is trading at $108,969 at the time of reporting. An increase of 0.16% daily and 1.45% weekly has been recorded. The daily movement confined within the $108,445 to $110,744 range confirms the tight trajectory. In the four-hour chart, the RSI value stands at 49.85, indicating a neutral territory. The price meanders around the SMA-9, waiting for directional guidance.
Should a candle close above the current all-time high, a new record target around $113,000 remains on the table. However, if this threshold is not surpassed, brief pullbacks should not come as a surprise.
