This surge in institutional interest comes as Ether eyes $4,000 breakout in the near-term. In the past week, the second largest cryptocurrency has seen a 3% price gain, currently trading around $3,880.
The inflow pattern also suggests a shift in investor capital allocation amid the anticipation of new ETF decisions.
Is Bitcoin Approaching a Turning Point?
Glassnode reports that Bitcoin’s $117,000 price level is acting as a key demand zone. Over 73,000 BTC are now held at this cost basis, an indication of strong buyer interest absorbing each price dip.
The $117K level continues to attract demand, with ~73K $BTC now held at this cost basis. Each dip is being absorbed, as investors steadily accumulate in this range: https://t.co/Z7YaRYAyAcpic.twitter.com/0klgr8Tvhs
Meanwhile, a CryptoQuant analyst noted the MVRV Ratio’s 365-day moving average (365DMA) as a signal worth watching. Historically, this indicator has aligned closely with market cycle tops.
In 2021, it formed a camel-like double peak, with the second top arriving six months after the first, right before the bear market began. Interestingly, 2025 appears to be following a similar pattern.
Bitcoin MVRV Ratio’s 365DMA | Source: CryptoQuant
If history repeats, the next market top could land around September 10, according to the analyst. However, some experts caution that since MVRV is a lagging metric, Bitcoin’s actual price peak may come slightly earlier, perhaps by late August.
As macro narratives shift and hopes of a potential Fed rate cut grow, investors should balance bullish expectations with disciplined caution.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.