Increased Bitcoin Profits This Weekend? Revived Buyer Interest Suggests It

Bitcoin reached a new peak above $111,000 earlier this week, showcasing a robust recovery from its April low of $75,000.

This uptrend highlights an increased risk tolerance among investors, with analysts suggesting that the cryptocurrency may continue to rise further.

Increased Buyer Activity

A review of the Spot Taker Cumulative Volume Delta (CVD) over a 90-day period indicates that taker buy orders are beginning to outshine sell orders, according to analysts at CryptoQuant.

This indicator measures the net activity between aggressive buyers and sellers in the spot market, and its recent upward movement reflects a resurgence in buying interest. For many months, the chart indicated negative activity, marked by significant selling pressure during price declines.

Now, the shift suggests that buyers are regaining dominance, which could support an ongoing increase in price. As Bitcoin stays close to its recent all-time high, the sustained strength in buyer activity indicates that market participants are actively engaging rather than taking profits. It appears they are doubling down on their investments.

This renewed interest at elevated price levels might set the stage for the next phase of growth, potentially drawing in additional investments into the market.

Renewed Upside Interest

A similar perspective was shared by QCP Capital in their recent market analysis, noting that although Bitcoin experienced a minor pullback following its record high, many investors quickly sought to capitalize on upward momentum. A notable indicator of this was the aggressive purchasing of 1,000 call options expiring in September at the 130K strike, viewed as a cost-effective strategy for capitalizing on potential price surges.

As the regulatory environment in the US appears to be improving and institutional interest continues through ETFs and direct market exposure, the fundamental outlook for Bitcoin remains robust, according to the trading firm. Additionally, a recent sale of 10% of Perpetual Preferred Stock for $2.1 billion aimed at obtaining more Bitcoin is expected to act as a major catalyst for future price increases.