Bitcoin News Today: Bitcoin Traders Bullish Despite 9.28% Inflow Surge

Bitcoin traders are currently exhibiting strong bullish sentiment, with elevated open interest and funding rates signaling a sustained appetite for leveraged long positions. The open interest holds near $42 billion, and funding rates remain positive, indicating that traders are willing to pay premiums to maintain their long positions. This aggressive positioning suggests that traders expect further upside in Bitcoin's price. However, this high level of leverage also increases the risk of downside volatility, as sharp price movements could trigger forced liquidations and abrupt market swings.

Bitcoin's price has been trading above the crucial $117,000 support level, but technical indicators suggest a potential pause or reversal in bullish momentum. The Parabolic SAR dots have flipped above the current price, and the Relative Strength Index (RSI) sits at 67, slightly below the overbought threshold. This combination indicates that buying pressure may be waning, even though the broader structure remains intact. If bulls can reclaim momentum and push past the $121,600 resistance level, the uptrend could resume. However, if the price weakens further and the RSI cools off sharply, Bitcoin might retest the $111,800 support zone in the short term.

Total exchange netflows have flipped positive by +871 BTC in the last 24 hours, marking a 9.28% increase in inflows. This suggests that some investors may be preparing to take profits or reduce exposure after the recent price surge. Rising inflows to exchanges often precede sell-side activity, indicating growing caution among holders. If this trend continues, it could temporarily weigh on Bitcoin’s momentum. However, the magnitude of the inflows remains relatively modest compared to past profit-taking events, suggesting that the current inflow shift may not significantly impact the overall market sentiment.

The Miners’ Position Index (MPI) stands at -0.92, with a 23.41% increase in the past 24 hours. This negative MPI indicates that miners are currently sending fewer coins to exchanges than their one-year average, suggesting reduced selling pressure. Historically, low miner outflows have helped sustain bullish trends by limiting supply-side weight. This behavior implies confidence in Bitcoin’s current price levels and future potential. However, any sudden shift in miner behavior could quickly reverse market sentiment. For now, miner restraint provides additional support for the ongoing uptrend as long as this trend holds steady.

The NVT Golden Cross sits at -1.96, having climbed 18.33% in 24 hours. This metric, which compares network value to transaction volume, currently signals that Bitcoin may be undervalued relative to on-chain activity. Historically, values below zero have preceded major bullish moves, especially when paired with strong price structure and holding behavior. While this doesn’t guarantee further gains, it strengthens the argument that Bitcoin’s recent rally is supported by real network utility. If transactional demand continues to grow, valuation metrics may continue to favor bulls, offering more room for price expansion without overheating.

Bitcoin’s outlook remains bullish, supported by reduced miner selling, strong derivatives activity, and undervaluation signals. However, caution emerges from exchange inflows and an overheated RSI. Whether the rally continues or stalls will depend on how leveraged positions hold up during volatility. A break below $117K could shift momentum short term, but holding this level may renew bullish confidence. The market's current sentiment is a mix of optimism and caution, with traders betting big on Bitcoin's continued rise while remaining vigilant of potential downside risks.