Bitcoin Price Near All-Time High as Large Investors Continue to Buy Amid Market Dip

Recent data shows that over one and a half billion dollars have been newly invested in Bitcoin spot ETFs within the past week, with the majority of these investments occurring in the last 48 hours amid a price dip. This pattern indicates that major investors maintain confidence in Bitcoin's future and see the recent decline as an opportunity to buy. The NVT index, which measures the ratio of network value to transaction volume, surged sharply early in the month, signaling a heated market, but has now retreated to its lowest monthly level, creating a favorable environment for Bitcoin's growth. Currently trading at $118,325 and only 4% below its all-time high, Bitcoin's prospects look strong if it manages to stabilize above $120,000 and surmounts the $122,000 resistance level. Such a breakthrough could lead to new record highs. However, persistent selling pressure and profit-taking could slow the rally, potentially dropping the price back down to around $115,000.