Record ETF Inflows and “Golden Cross” on Charts Signal Continuation of Bullish Trend
Bitcoin has reached a new all-time high, surpassing the $111,970 mark during trading, demonstrating an impressive 7.2% growth over the week. The first cryptocurrency is currently trading around $110,998, which is 0.43% higher than yesterday’s level. The powerful rally is fueled by record inflows into Bitcoin ETFs, renewed statements from President Trump supporting cryptocurrencies, and fresh cases of corporate adoption, including Swedish company H100 Group AB, which became one of the first public healthcare companies to add Bitcoin to its balance sheet. Technical indicators, including the formation of a “golden cross” on the 4-hour chart, point to potential for further growth toward $113,200 and beyond.
Fundamental Shift: From Selling to Active Accumulation
Bitcoin’s on-chain dynamics have fundamentally changed compared to the selling pressure observed earlier this year. From January to April, when prices fell from a peak of $109,000 to $75,000, most investors were scaling down their positions in the first cryptocurrency.
According to Glassnode’s Accumulation Trend Score, a noticeable shift is evident — a surge to 1.0 suggests steady accumulation in the market. This indicator is an important gauge of long-term Bitcoin holder sentiment and often precedes significant price movements.
“The transition from a distribution phase to accumulation is a critical moment in any market cycle,” explains Willy Woo, on-chain analyst and creator of the Woobull platform. “When we see Glassnode’s accumulation indicator reach 1.0, it typically signals that short-term holders have stopped selling, and long-term investors are beginning to actively buy the dips.”
Traders are also positioning for continued upside, as evidenced by the concentration of open interest at $200,000 and $300,000 June call option strikes, indicating strong bullish conviction among market participants.
Political Support and Institutional Interest
President Donald Trump tweeted en route to a crypto-focused dinner in Loudon County, Virginia, affirming his commitment to the crypto space. He stated that the U.S. is dominating in cryptocurrency, Bitcoin, and more, emphasizing the nation’s determination to maintain leadership: “We are going to keep it that way.”
These statements are particularly important in the context of previous fluctuations in political support for cryptocurrencies at the federal level. Under the Trump administration, a more favorable regulatory environment for digital assets is expected, which could serve as an additional catalyst for institutional adoption.
“High-level political support is critically important for the long-term development of the crypto industry in the U.S.,” comments Meltem Demirors, Chief Strategy Officer at CoinShares. “Trump’s statements not only strengthen the confidence of current market participants but also signal to traditional financial institutions that it’s time for more serious consideration of digital assets.”
Corporate Adoption: Swedish Healthcare Company Follows MicroStrategy’s Example
Separately, Swedish healthcare firm H100 Group AB has emerged as one of the first publicly traded healthcare companies to add Bitcoin to its balance sheet. The company disclosed a purchase of 4.39 BTC at 138,737 Norwegian Kroner as part of its Bitcoin Treasury Strategy.
This move is particularly noteworthy as the healthcare sector is traditionally considered one of the most conservative regarding new technologies and alternative investments. H100 Group’s decision may signal broader acceptance of Bitcoin as a treasury asset beyond the technology sector.
“We’re seeing diversification in corporate Bitcoin adoption,” notes Michael Saylor, Chairman of MicroStrategy, the pioneering company in corporate Bitcoin investments. “When companies from such conservative sectors as healthcare begin adding Bitcoin to their balance sheets, it speaks to a fundamental shift in the perception of digital assets as an investment class.”
Large Institutional Movements and Market Activity
According to Whale Alert data, Coinbase received a total of 6,016 BTC on Thursday from multiple unknown wallets. The transfers occurred in one sequential series of transactions with nearly identical amounts. Eleven transactions moved 463 BTC each, while the remaining two involved 462 BTC and 461 BTC respectively, all within a matter of hours.
Such large-scale transfers to centralized exchanges can signal either intention to sell or institutional activity, including ETF rebalancing or large trades. Given the overall bullish market context, these transfers are likely related to institutional activity rather than selling intentions.
“When we see such coordinated transfers of large volumes, it typically indicates institutional activity,” explains Ki Young Ju, founder of CryptoQuant. “In the context of the current bull market and record ETF inflows, these movements are most likely related to institutional rebalancing rather than selling.”
Technical Analysis: “Golden Cross” and Key Levels
Analyst Ali Martinez reported that Bitcoin is forming a “golden cross” on the 4-hour chart — a technical pattern typically considered a bullish signal. The true value lies in earlier pressure zones, such as the $74,439 to $79,000 range, which are key accumulation areas where buying began before the golden cross appeared.
Bitcoin began its rally from a support zone near $105,000, cleared the $108,000 resistance, then broke through $110,000. The bulls continued pressure, breaking the $111,500 barrier and peaking near $111,800.
Technical levels for further movement:
- Key resistance: $112,000
- Next targets: $113,200 and beyond upon breaking resistance
- Support: $105,000 (where the current rally began)
- Critical accumulation zone: $74,439-$79,000
“The golden cross on the 4-hour chart combined with breaking key resistance levels creates a very strong technical picture,” comments Peter Brandt, veteran technical analyst. “However, it’s important to remember that the market may experience some resistance at the psychologically important $112,000 level before continuing toward new highs.”
Options Market and Trader Sentiment
Over $3.3 billion in Bitcoin and Ethereum options expire today, with total open interest of 25,438 contracts, slightly down from last week’s 26,543. The put-to-call ratio stands at 1.22, indicating bearish sentiment among options traders.
Paradoxically, bearish sentiment in options amid reaching new highs can be viewed as a contrarian indicator, suggesting the market may continue to rise as most participants underestimate the strength of the current trend.
“A high put-to-call ratio is often a contrarian indicator at market peaks,” explains Scott Melker, trader and host of The Wolf of All Streets podcast. “When traders are buying many puts amid rising prices, it may signal that bearish sentiment is excessive, creating potential for further upside.”
Outlook and Possible Development Scenarios
The combination of fundamental and technical factors creates a favorable environment for further Bitcoin growth. Key supporting factors include:
- Institutional Inflows: Continued record inflows into Bitcoin ETFs
- Political Support: Favorable position of the Trump administration
- Corporate Adoption: Expansion beyond the technology sector
- Technical Signals: Golden cross and breaking key resistance levels
- On-Chain Data: Transition from selling to accumulation
Nevertheless, investors should consider potential risks, including high volatility, possible regulatory changes, and natural corrections after significant growth.
“The current confluence of positive factors creates one of the strongest bullish setups for Bitcoin in recent years,” concludes Raoul Pal, founder of Real Vision. “However, as always in cryptocurrencies, it’s important to manage risks and be prepared for volatility, even within an overall upward trend.”
Upon successful breakthrough of the $112,000 level, the next targets for Bitcoin could be $113,200, $115,000, and potentially $120,000 in the medium term, based on current technical and fundamental analysis.