- Falling exchange reserves and the lack of large whales were strong positive points for bulls
- The realized price statistics of the long -term holders unveiled a pattern that suggested that a quick rally was imminent
Bitcoin [BTC] Has exchanged almost ten days within a range. This range formation came alongside falling exchange reserves. The Crypto -fear and greed index Was at 74 at the time of the press, and emphasized greed in the market.
The dominance of Bitcoin saw a pullback, but it remained within its rising channel. This meant that the outperformance of the Altcoins may have been a phenomenon in the short term. BTC still leads the show, with a rising BTC.D that is seen in the last five days.
At the time of writing, one of the many encouraging factors for the bulls was the call options that reflected a bullish directional bias. With whales accumulation also in the game, it seemed probably that another BTC Rally can brew.
Bullish Bitcoin instructions, and the importance of $ 98.8k
Source: Cryptuquant
The data on the flow of Bitcoin from large whales to exchanges showed that on 17 May, 53.7k BTC was collected By holders with more than 10k bitcoin. The big holders have seen negative BTC streams since August – a sign that smart money did not believe that a market top was at hand.
Although it was not a bullish short -term signal, it indicated that the bullish trend still had enough room for expansion. The Falling Exchange reserves data, strengthened this idea and achieved levels that have not been seen since August 2018.
In one Post on Xanalyst Axel Adler JR noted that short-sellers were noticeably more careful in 2025 than during the 2021 rally. This was demonstrated by the lack of remarkable long press in recent months.
It can be deduced here that risky bears generally reflected a bullish signal.
Finally, in a post Cryptoquant insights” User Shayan It noted that Bitcoin successfully reclaimed the realized price of the 3-6 months holder cohort. As appears in October 2023 and October 2024, this recovery generally came before a strong rally.
At the same time, it should be noted that the Retracement to this realized price, for $ 98.8k at the time of the press, would probably act as a dynamic support.