Bitcoin has reached a new peak of $79,780, marking its fourth all-time high in five days.
BTC's open interest to market cap ratio has hit a multi-year high, indicating heightened market interest and potential future volatility.
The next few days will be critical as investors monitor momentum and assess the potential for further upward movement.
Bitcoin's bullish phase is supported by price action and compelling on-chain data, but comes with risks of heightened volatility and potential liquidations.