Recent data suggests that Bitcoin is entering a strong bullish phase. Here’s why: UTXO age bands are all showing unrealized profits, indicating widespread optimism and strength in the market. Metrics like Stock-to-Flow and NVM Ratios have risen sharply, aligning with Bitcoin’s price surge. This shift, alongside Bitcoin breaking through $98,138, demonstrates a unique on-chain phase with strong investor confidence and market power. 📈 Currently at $102,942, the price is up 3.32% in just 24 hours. 📈. The data also reveals significant changes in large holder activity: The 7-day Exchange Netflow Ratio has surged by 69%, indicating whales are potentially preparing to sell or reposition near resistance. On-chain activity, however, is showing signs of fresh demand with a 8.79% increase in Active Addresses and an 8.13% increase in New Addresses this week. This suggests Bitcoin’s market structure is strengthening. 💪 Further bolstering the possibility of a breakout is seen in the form of a clear cup-and-handle pattern with resistance around the $108K mark. A surge above this level could potentially push Bitcoin prices to new all-time highs – some analysts predict a break toward $120K! 💸 The current rally is backed by structure, volume and on-chain support. If buyers maintain control, Bitcoin may enter a price discovery phase. However, $108K remains a crucial resistance level for the market to overcome if the bull run continues.