Including today, this is the fourth time (on a trading day) that BTC has challenged $117,000. The chip structure clearly shows that over 800,000 BTC are accumulating within the narrow range of $117,000-$118,000. $117,000 also marks the highest chip count of any single price, what we call the "strongest one." While challenging, it's not necessarily unwinnable. At the very least, the current repeated surges indicate that bullish sentiment is gathering. Personally, I'm keeping an eye on three key data points right now: 1. Are ETF net inflows and spot exposure increasing simultaneously? This indicates genuine spot buying from traditional funds. See: x.com/Murphychen888/status/196...… 2. Is there a significant deviation in the STH Realized Profit Normalization Index (STH-RPDZ)? This indicates strengthening short-term momentum. See: x.com/Murphychen888/status/196...… 3. Can it break above 11.7w and not fall back below (based on the daily closing price)? This indicates minimal short-term selling pressure, which is positive for the market outlook. See: x.com/Murphychen888/status/196...… For each additional of these three conditions met, the probability of BTC returning to its previous high increases. 👇 👇 ‼ ️ My sharing is for educational purposes only and is not intended as investment advice. ‼ ️ ------------------------------------------------- This article is sponsored by #Bitget | @Bitget_zh