Bitcoin surged to a new all-time high of $120,000 on Coinbase, driven by BlackRock’s spot ETF holding over 700,000 BTC. NUPL shows minimal profit-taking. Daily transactions are up, with 250,000 BTC held in accumulation addresses. Institutional inflows from IBIT tripled to $83 billion, surpassing Strategy by 100,000 BTC.

Bitcoin network activity remains steady, with daily transactions increasing to 364,000. No signs of panic selling or profit-taking. Market environment is composed, indicating a bullish trend. This reflects a healthy market with potential for further network acceleration.

Accumulator addresses have increased significantly, holding 250,000 BTC, the highest in 2024. 30-day demand rose by 71% from late June. Long-term buyers show renewed conviction. This data shows strong interest from investors in acquiring Bitcoin for the long term.

Read more at Cointelegraph: BTC Hits $120K as Profit Taking Remains Below Previous Peaks