Bitcoin spot price continues to move higher, reaching as high as $69,000, just 6.8% below the ATH. The price rally has broken through several key levels through technical and on-chain inputs. This is the first sign of positive price momentum since late June.

Bitcoin’s run to new highs has been fueled by strong spot demand and institutional inflows. This article explores on-chain indicators, highlighting strong spot buying momentum, rising ETF AUM, futures premium, and the potential for continued gains during this ATH phase.

After a string of consistent new ATHs, Bitcoin is just one step away from hitting $100,000 per coin. Explosive moves can lead to a significant increase in unrealized profits for holders, and long-term holders are increasing their allocations in response.