The leading coin, Bitcoin (BTC), has touched a new all-time high of $109,350 during Monday’s early trading session. This surge comes amid the broader market
Bitcoin price soared to a new all-time high of $109,350 on Monday morning, despite a broader market decline.
At press time, BTC trades at $107,422. A technical analysis of the coin’s one-day chart shows a sustained demand for BTC despite the market downturn.
For example, the coin’s Balance of Power (BoP) is an uptrend at 0.75, reflecting the bullish bias toward the leading crypto asset.
This momentum indicator measures the dynamic between buying and selling pressure, indicating whether bulls (buyers) or bears (sellers) are in control. As with BTC, a positive BoP means buyers are dominant, driving prices upward as demand outweighs supply.
Notably, BTC’s spot inflows have risen to a 30-day high, confirming the surge in demand for the coin. According to Coinglass, this totals $316 million at the time of writing.
When an asset’s spot inflows rise, more funds are moving into spot markets, often signaling increased buying activity and interest in the asset. This indicates growing demand for BTC, driving its price higher if supply remains limited.
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