Overview

• Bitcoin’s realized capitalization has remained above $1 trillion following an 80,000 BTC sale by a Satoshi-era whale that barely moved the market.
• BTC has held firm above $118,000 support for several sessions, consolidating within a $115,000–$120,000 range despite recent profit-taking.
• Rising open interest and falling funding rates suggest mounting short-position pressure that could trigger a squeeze above $119,000.
• Global M2 money supply is at record highs, underpinning broad liquidity that continues to flow into bitcoin through ETFs and institutional channels.
• Ethereum’s on-chain USD volume has surged nearly 288% in three weeks and BNB remains close to its $827 all-time high, signaling expanding altcoin strength.