Bitcoin has seen a 10.4% weekly price increase, trading at $103,881 and surging over 24% in the last month.
Recent data shows a significant Bitcoin outflow of over 3,000 BTC ($312 million) from Binance, indicating accumulation behavior and reduced near-term selling pressure.
The outflow coincided with a US-China trade deal, causing positive movements in both US equity markets and the crypto space.
Market participants are adjusting strategies in response to macroeconomic trends, with Bitcoin holders and institutions showing increased confidence in the cryptocurrency's long-term potential.