Bitcoin’s Bull Run Echoes 2021 as Fresh Capital Floods In
Wall Street’s favorite digital gold is back in the spotlight—investment inflows now mirror the frenzy of Bitcoin’s last all-time high cycle. Who said crypto winter was permanent?
Money talks, and right now it’s screaming ‘FOMO.’ Institutional players and retail traders alike are piling back in, proving once again that Bitcoin refuses to die quietly. The numbers don’t lie: we’re seeing 2021-level momentum without the meme-stock distractions.
Of course, traditional finance pundits will still call it a ‘bubble’—right up until their hedge funds quietly allocate 5% to BTC. Some things never change.
Bitcoin Demand Remains Strong Despite Pullback
Bitcoin is currently trading around $105,000 after a brief retracement from its $112,000 all-time high. While some investors interpret the pullback as a potential warning signal, many analysts argue that BTC is simply cooling off before its next leg higher. The coming days will be pivotal, as bulls must defend current levels and reclaim higher ground to confirm a continuation of the broader uptrend.
Adding to the complexity is the backdrop of global macroeconomic uncertainty. Rising U.S. Treasury yields continue to signal systemic financial stress, while geopolitical tensions and policy shifts, including recent U.S. tariff rulings, stir volatility across global markets. Yet, despite this turbulence, Bitcoin appears to thrive. Investors increasingly view BTC as a hedge against both inflation and monetary instability.
On-chain data supports this sentiment. Adler highlights that demand for Bitcoin is now approaching levels seen during the peak of the previous bull cycle. CryptoQuant data reveals that an average of $1.8 billion in new capital flows into Bitcoin daily, matching the intensity of inflows seen around the $64,000 mark in November 2021. Notably, the largest inflows of this current cycle were recorded at $73K and $92K, peaking at $3.6 billion and $4.5 billion, respectively.
This sustained appetite for BTC—even after reaching new highs—signals confidence among institutional and retail investors alike. The market isn’t cooling off due to a lack of interest; instead, it’s regrouping. If demand remains at these levels or accelerates, Bitcoin could be gearing up for another explosive move, potentially targeting the $120,000 range in the NEAR term.
BTC Weekly Chart Shows Healthy Pullback at Key Resistance
The weekly chart for Bitcoin shows that BTC is undergoing a healthy consolidation phase just below the $112,000 all-time high. After a strong push that brought price action to $110,789, Bitcoin retraced to $105,466, marking a 5% correction from local highs. Despite the retracement, the structure remains decisively bullish. BTC continues to trade well above the 34-week EMA ($89,020), and the price has yet to break below the critical $103,600–$105,000 support zone.
Volume has remained relatively stable, indicating there’s no panic selling—just a pause after a strong move. The resistance at $109,300 is acting as a magnet for price action, and a weekly close above this level could confirm a continuation toward $120,000.
On-chain metrics and price structure suggest buyers remain in control, but bulls must reclaim $109K in the coming sessions to regain momentum. Until then, BTC is likely to chop within the $103K–$110K range. If it breaks below $103,600, it could test deeper support near the 34 EMA. Overall, this chart reflects a classic bullish pause within a strong uptrend, setting the stage for a potential breakout if macro conditions align and demand remains steady.
Featured image from Dall-E, chart from TradingView
