Will Bitcoin be able to stay above 100,000 Dollar? What do the data say? Here are the details.

As Bitcoin rises above the 100,000 dollar level again, investors tend to liken this rise to the short-lived rallies in January. However, recent data and market dynamics show that this time the rally is based on more solid foundations.

One of the key indicators determining the market's risk appetite, financial conditions are now presenting a favorable picture for Bitcoin. The dollar index (DXY) fell by 9% from the January level of 109 to 99.60, while the 10-year US Treasury bond yield also decreased from 4.8% to 4.52%.

These softening conditions are creating a more favorable environment for risky assets. Although 30-year bond yields have risen above 5%, this development is perceived positively for inflation hedge assets such as gold and Bitcoin.

The total market value of US dollar-indexed stablecoins such as USDT and USDC has reached a record of 151 billion dollars. This indicates an approximate increase of 9% compared to the average level of 139 billion dollars during the December-January period. The presence of a large capital reserve available for investment is seen as a positive signal for Bitcoin and the cryptocurrency markets.

The recent rise of Bitcoin starting from 75,000 dollars is largely due to directional purchases made by institutional investors through spot ETFs.

Although open positions in CME Bitcoin futures have reached a peak of 17 billion dollars, the highest level since February, they are still below the December peak of 22.79 billion dollars. In contrast, total inflows into spot Bitcoin ETFs have reached 42.7 billion dollars, surpassing the 39.8 billion dollar level in January.

In the past, during the peak periods of Bitcoin, speculative enthusiasm was observed in memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB). However, currently, there is no significant activity or bubble effect seen in these types of altcoins. This indicates that the market is proceeding more cautiously this time.

There is demand for long ( positions in the permanent futures market of Bitcoin, but the funding rates are well below the highs seen in December. This shows that leveraged positions are not excessive and the market is not yet "heated up."

It is not investment advice.

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