Bitcoin News Today: Bitcoin Dips 2.25% But Bull Run Intact As Investors Lock In 3.5 Billion

Bitcoin’s bull run, despite recent fluctuations, remains robust and is expected to continue. The cryptocurrency opened at $119,720 and experienced a 2.25% intraday dip, marking its longest red daily candle of the month. However, this was not indicative of panic selling. According to Glassnode data, investors locked in $3.5 billion in realized profits, with over half of that coming from long-term holders. This strategic selling reflects market maturity rather than a loss of confidence.

The market's response to this sell-off has been measured. The Fear & Greed Index remains elevated at 70, indicating ongoing bullish sentiment. Net spot inflows have surged to a yearly high, with 15.6k BTC moving onto exchanges. This data suggests that the market is not de-risking or capitulating but rather realizing gains, a healthy dynamic for a structurally intact bull market.

Smart money is now eyeing a high-conviction reentry. If Bitcoin revisits the $110k zone and confirms it as support, it could serve as a springboard for the next vertical leg of its bull run. This bull run has been the most aggressive yet, with weekly gains of 12% and open interest soaring to an all-time high of $87 billion. According to Nic Puckrin, crypto analyst and founder of “The Coin Bureau,” the recent shakeout is a greed-driven reset. With leverage stretched, the market needed to cool before the next leg higher.

Puckrin noted that future funding rates are still at normal levels, meaning the risk of cascading liquidations is low. Interest rates are still high, and the money printers haven’t even been turned on yet. This rally is still driven by institutional capital, while the typical signs of retail involvement, such as soaring search traffic and crypto app rankings, are absent. Retail investors are not expected to get involved in a meaningful way until Bitcoin reaches around $150,000 and the FOMO kicks in.

From a macro perspective, Bitcoin has rallied this far without a single rate cut, meaning true liquidity hasn’t even kicked in yet. The Retail-to-Institutional Address Ratio supports this view, having dropped to a yearly low, coinciding with Bitcoin’s climb to $120,000. This signals that institutions are driving the rally, while retail investors are largely still sidelined.

In summary, Bitcoin’s bull run is far from over. With risk appetite intact, retail euphoria absent, and a macro backdrop that could welcome rate cuts before year-end, Bitcoin appears poised to ignite its next leg toward new all-time highs.