As "Uptober" kicks off in the crypto markets, CryptoQuant analysts have pinpointed 5 on-chain indicators that could signal a bullish Bitcoin rally to new highs. A compelling insight for savvy investors eyeing potential gains.
The influx of 10 billion USDT over the past 60 days constitutes a major catalyst for prices, as these fresh funds are very often used to purchase Bitcoin and other digital assets. This significant liquidity injection suggests a bullish repositioning among both institutional players and retail investors.
With the Stablecoin Supply Ratio (SSR) RSI currently at 21, the market is in “buy territory,” indicating imminent bullish pressure. The lower this ratio, the larger the stablecoin reserves and the higher the potential for BTC purchases.
“Illiquid” wallets have acquired an additional 298,000 BTC recently. This reaffirms their long-term vision for Bitcoin and maintains upward pressure on the available supply.
Bitcoin’s trading volume has surged by +29% over the last 24 hours, crossing the $62 billion threshold. This sharp increase confirms that the market is in an active accumulation phase, often observed before a major bullish breakout.
A breakthrough beyond the major resistance around $114,000 could send a breakout signal to all bullish market participants. Moreover, the potential liquidation of short-term investors at this breakpoint could fuel the rally toward $150,000.
Currently at $112,958, Bitcoin shows a technical configuration suggesting intact bullish potential, with a consistent accumulation curve. Short-term selling pressure is decreasing, and inter-platform flows are about to shift upward.
The five on-chain indicators mentioned highlight a market structure favorable for a surge towards $150,000. However, caution remains essential as volatility can emerge at any moment. To traders and investors: Keep a vigilant eye on these metrics and adjust your strategies based on solid analysis.
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