Cryptocurrency markets are up on Tuesday, with a benign inflation data print fueling risk-on sentiment across the board.

Notable Statistics:

• IntoTheBlock data shows Bitcoin large transaction volume and daily active addresses spiked 40.7% and 18.1%, respectively, in the past 24 hours. Transactions greater than $100,000 are up from 8,934 to 12,470 in a single day. Exchanges netflows are down by 199.5%.
• Coinglass data reports 165,655 traders were liquidated in the past 24 hours for $509.95 million.
• Glassnode data shows continued Bitcoin accumulation among larger wallets, with mid-sized holders (100–10,000 BTC) leading the charge. In contrast, the largest whales (holding over 10,000 BTC) have eased off, adopting a more neutral stance. Meanwhile, smaller holders (under 10 BTC) have continued to offload their positions.
• According to CoinBureau, corporations have emerged as Bitcoin’s biggest buyers, accumulating 157,000 BTC valued at $16 billion. This puts them ahead of both ETFs and retail investors in terms of market share, signaling a growing shift toward institutional dominance in the space.

Notable Developments:

Top Gainers:

Trader Notes: More Crypto Online identifies $104,868 as the next target for Bitcoin’s bullish continuation.

However, they caution that if the local top was already set on May 12, this level could attract increased selling pressure.

Stockmoney Lizards notes that while sentiment has clearly turned bullish, a heavy sell wall above $104,000 remains the primary barrier.

A clean breakout above Bitcoin’s previous all-time high could trigger a significant short squeeze, catching bears off guard and potentially sparking a sharp upward move, especially with sidelined capital and momentum traders ready to jump in.

Byzantine General highlights resilient bullish structure, pointing out that a recent funding reset cleared out excessive leverage, and the swift rebound shows strong underlying demand. As long as Bitcoin continues to form higher lows and holds key support, he sees no clear reason to be bearish at this stage.

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