Bitcoin is nearing its all-time high of $112,000, with investors closely watching for a decisive breakout to confirm bullish dominance.
Bitcoin inflows to Binance have dropped to cycle lows, indicating that long-term holders are holding onto their BTC instead of selling, despite approaching record highs.
Investor behavior is signaling growing conviction in Bitcoin's potential as exchange inflows decrease, typically a sign of potential sell pressure.
Technical analysis shows Bitcoin consolidating just below $112,000, with key support levels at $109,300 and positive momentum indicators suggesting a possible continuation towards price discovery if resistance is broken.