• Bitcoin’s rebound from $100K aligned with rising RSI and strong Fibonacci support, suggesting deeper conviction in the bounce.
• Open Interest surge and neutral funding suggest traders are positioning for a major breakout.

Since mid-June, Bitcoin [BTC] has demonstrated remarkable resilience, reclaiming support above $100K with conviction.

In parallel, over $240 million in BTC left exchanges. A signal for aggressive accumulation, not fear.

Naturally, the most striking shift came from miners.

When miners stop selling, smart money listens

’s Miner to Exchange Flow dropped to yearly lows just as price held above $100K.

In fact, this is historically one of the most consistent sell indicators.

With Bitcoin trading at $106,654 at press time, the convergence of miner confidence and whale accumulation paints a bullish backdrop. 

Source: CryptoQuant

These signals suggest that long-term holders are preparing for a potential breakout while short-term volatility plays out. Are these key players quietly laying the foundation for Bitcoin’s next macro surge?

Are traders ramping up their bets as volatility returns?

Meanwhile, Open Interest jumped 4.07% in 24 hours, reaching $33.97 billion across derivatives platforms.  This uptick implied that traders re-entered the market with renewed leverage exposure. 

However, the absence of major price swings alongside this rise suggests a buildup phase.

Such divergence often precedes explosive volatility, especially when Funding Rates remain balanced.

And indeed, Funding Rates stayed slightly negative at -0.0009%, pointing to healthy long/short dynamics without overcrowding.

Source: CryptoQuant

Network activity rises, but it’s reshuffling

Address metrics present a nuanced picture of current sentiment. Active Addresses rose 5.84% this week, reflecting stronger user engagement.

However, New Addresses fell 1.25%, which clearly is a sign that recent activity came from existing participants rather than new entrants.

On top of that, Zero Balance Addresses surged 13.24%—possibly from wallet consolidation or redistribution, not panic selling.

These diverging patterns imply a reshuffling among existing participants rather than a flood of new investors. Still, rising active usage provides a foundation for sustained demand should broader interest return.

Source: IntoTheBlock

Why has Bitcoin’s scarcity skyrocketed?

If supply defines value, BTC’s Stock-to-Flow Ratio just made a loud statement. The metric surged to an unprecedented 757, the highest level in recent years.

Historically, such elevated S2F ratios have coincided with major bull runs, especially when paired with strong accumulation trends. 

When combined with growing demand, this scenario of high scarcity creates a favorable environment for long-term price appreciation.

Source: Santiment

Can BTC reclaim higher levels after bouncing from $100K?

Bitcoin found solid support around the $100K–$102K zone, aligning with a key Fibonacci cluster. 

The bounce has pushed price back above $106K, while the RSI climbed to 54.12, signaling renewed strength without overbought conditions. If bulls maintain momentum, key resistance levels lie around $110K, $112K, and $119K. 

Therefore, this recovery from strong support—combined with healthy momentum—could fuel a retest of higher Fibonacci extensions in the near term.

Source: TradingView

Conclusively, BTC’s recent price stability above $100K is not accidental—it is supported by declining miner outflows, rising Open Interest, and deep on-chain accumulation. 

The convergence of reduced selling pressure, record-high scarcity, and technical recovery sets a strong stage for the next bullish phase.