Bitcoin reached a document excessive of virtually $112,000 on Could 22 and has remained comparatively near that mark ever since, holding buyers on edge for a possible breakout.
Regardless of subdued market exercise, the Bitcoin Mixed Market Index (BCMI) signifies a shift in sentiment.
Accumulation Alerts
As of Could 29, 2025, the 7-day easy shifting common (SMA) of the BCMI has rebounded sharply to round 0.6, which, according to CryptoQuant, suggests an early upside sign. In distinction, the 90-day SMA stays secure at roughly 0.45, reflecting a impartial zone and confirming that the market isn’t but overheated.
The BCMI, which blends key metrics resembling MVRV, NUPL, SOPR, and the Worry & Greed Index, serves as a broader gauge of market temper. Thresholds spotlight extremes, values under 0.15 level to macro bottoms, whereas these above 0.75 trace at potential tops.
With profit-taking slowing and on-chain indicators bettering, the index hints at a doable early accumulation part. Whereas broader participation stays cautious, the information suggests sentiment could also be quietly turning.
“The gang remains to be ready – however the sign is already flashing.”
Additional validating this habits, Santiment’s newest analysis revealed a major development amongst mid-sized Bitcoin whales. The crypto analytics agency noticed that wallets holding between 100-1,000 BTC have proven the strongest historic correlation to Bitcoin’s worth actions over the previous 5 years. Within the final six weeks alone, this cohort has added 337 new wallets, collectively accumulating an extra 122,330 BTC.
This sharp uptick in accumulation suggests rising confidence amongst seasoned buyers and should sign a bullish undercurrent forming beneath the floor of present market circumstances.
“Pivot Zone” for Bitcoin
Bitcoin might be dealing with one other extended consolidation part if recent shopping for strain doesn’t emerge this week, in line with on-chain analyst Willy Woo. In a latest update, Woo famous that whereas the broader market reveals indicators of power, along with his Danger Sign trending downward, which implies buy-side liquidity is dominating, the short-term momentum is faltering.
The power of this bullish run from $75K to $112K is beginning to break down, he warned. The following few days are essential: an absence of follow-through from patrons might stall the rally and lure the market in sideways motion. Woo raised issues over latecomer speculators getting into lengthy positions whereas many holders sit on vital unrealized positive factors, as highlighted by the Spent Output Revenue Ratio (SOPR).
If profit-taking intensifies with out ample spot demand, the market may retreat or stall. Woo believes the result of this week’s spot market exercise will possible form Bitcoin’s path for the following one to 2 months.
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