Overview

• BTC trades around $122,000 after briefly dipping toward $120,600, cooling from an early‑October surge to roughly $125,000–$126,000.
• CryptoQuant data from Binance shows vol_delta exceeded $500 million on some days, imbalance_pct reached about 0.23, and the Z‑score hit 0.79, pointing to strong buy pressure from large players.
• NewsBTC reports daily trading volumes rose to their highest since last July during the rally, suggesting the move was supported by substantial liquidity.
• Short‑term readings have softened with occasional negative vol_delta and lower volumes, but broader signals still lean bullish if $120,000 support holds.
• Technical analysis highlights a double bottom and low profit‑taking, and crypto.news notes the rally was fueled by elevated spot buying and record ETF inflows.