Bitcoin Rally Shows Strength Without Market Euphoria

Bitcoin recently reached a new all-time high of over one hundred eleven thousand dollars, but this time, it happened without the usual signs of frenzy. Analysts say that low funding rates and limited retail euphoria could mean more upside is still on the table.

Spot Buying Dominates
The rally is being fueled by spot demand rather than speculative futures trading. Funding rates across exchanges remain subdued, pointing to healthy growth without the risk of over-leveraged positions.

Stablecoin Liquidity is Climbing
The total market cap for stablecoins has surged to over two hundred forty billion dollars. This rise suggests new capital is waiting to be deployed into the crypto markets, with a significant share likely headed toward Bitcoin.

Global Liquidity Trends Support Risk Assets
The global money supply is expanding again, providing favorable macroeconomic conditions. Analysts at Cointelegraph note a strong historical correlation between Bitcoin price and global liquidity, often with a two-month lag.

Long-Term Holders Are Not Selling
Glassnode data shows that daily profit-taking is less than half of what it was when Bitcoin first hit one hundred thousand dollars. This implies strong conviction among long-term holders and reduces the likelihood of a near-term correction.

Conclusion
With low levels of speculation, rising stablecoin liquidity, and macro trends in Bitcoin’s favor, analysts argue that the rally is far from over. In fact, we might still be in the early stages of this new bull cycle.