Bitcoin Gains 1.7% to Reach $109,505 Amid Stable Market Conditions

Bitcoin has gained 1.7% in the last 24 hours, reaching $109,505, a 4% increase over the past week and just under 2% from its all-time high of $111,000 set last month. Recent price movements occurred amid low market activity.

Key Indicators and Market Conditions

Current growth appears measured, unlike previous speculative rallies.
Analysts are examining metrics like Binary Coin Days Destroyed (CDD), MVRV ratio, and exchange premium indexes for insights into investor behavior.
Long-term holders show confidence as CDD declines, indicating they are not selling.
The Coinbase Premium Index is increasing, approaching levels seen during Bitcoin's previous peaks.
Korea Premium Index remains low, suggesting muted retail activity in Asia.
MVRV ratio rises gradually, indicating the market has not reached extreme greed.

Indicators suggest potential for further growth rather than an imminent correction.

Whale Activity and Institutional Demand

Consistent buying from larger players noted since April 21, indicating increased demand from US investors.
Whale accumulation supports a strengthening market foundation without excessive volatility.
This pattern aligns with historical recovery phases post-correction.

Overall, long-term holder conviction and institutional demand contribute to a stable rally environment as retail activity remains subdued.