Bitcoin has resumed its upward trajectory in the early hours of Monday, briefly surpassing the $106,000 mark before encountering resistance and experiencing a minor pullback. As of the time of writing, Bitcoin is trading at $104,153, representing a 1% decline over the past 24 hours.
Despite this dip, the asset remains in a strong position overall, having posted significant gains over the past several weeks and retaining proximity to its all-time high levels. This price action follows a brief consolidation phase late last week, during which Bitcoin paused after climbing above $104,000.
Amid this price performance, CryptoQuant analyst Avocado Onchain recently shared his interpretation of the trend based on derivatives and spot market data.
Market Buy Volume and Funding Rates Show a Shift in Rally Behavior
In his recent analysis, “Bitcoin’s Rebound Without Overheating Is a Clear Sign of a Healthy Bull Market,” Avocado Onchain pointed to a shift in Bitcoin’s behavior a
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