Bitcoin breaks ATH – Identifying why BTC’s rally is just getting started

• Bitcoin hit $118.8K on the 11th of July, but on-chain data showed low retail activity, moderate MVRV Ratio, reduced Short-Term Holder profits, and declining Miner Position Index. All of these signal the rally isn’t over yet.

Bitcoin [BTC] was trading at $117,783, after clocking a fresh all-time high of $118,856 earlier that day, as bullish sentiment started to drive the market upward.

Google Trends showed that the Bitcoin topic was still not popular in the United States, and was far away from the peaks of 2020, or even November 2024.