Important takeouts:
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Bitcoin price discovery reached the strongest weekly magazine at $123,400.
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Onchain Metrics and Futures data show sustained bull control over $122,000.
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The short-term outlook is split between higher momentum or average return dips.
Bitcoin (BTC) achieved its most powerful weekly magazine on Sunday at $123,500, confirming its entry into a new phase of price discovery. Three key on-chain and derivative metrics highlighted the health and sustainability of bullish trends as it was consolidated at $125,800 near the all-time high (ATH).
The Bulls control the structural momentum of Bitcoin at nearly $123,000
Bitcoin’s structural momentum remains critically bullish. Bitcoin researcher Axel Adler Jr. pointed out that BTC prices remained pressed against the upper limit of the 21-day “Donkian” channel ($125,200). At the same time, the structural shift composite rose at +0.73, an indicator of buyer advantage and controlled pullback. The ongoing battle for the $125,000 ATH allows us to determine whether the market will expand high for integration or pause.
Futures flow index signal indicates bull pressure
The Bitcoin Futures Flow Index reads 96%, and a price well above $117,500 for a 30-day fair value is the classic “bull mode” signal. This setup often precedes a short cooling or digestion phase, as the futures activity that was overheated prior to continuation is stable.
Finally, the profit/loss block score remains at the maximum reading of +3, indicating that most UTXOs are profits.
Meanwhile, the MVRV ratio for short-term holders is pushed towards the +1σ band of nearly $133,000, suggesting potential resistance as profitable pressure accumulates. Maintaining P/L momentum above the 90th percentile is important to avoid divergence and trend fatigue.
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Short-term outlook: BTC momentum crushing or average return?
Bitcoin’s short-term structure presented two different continuity scenarios, over $123,000 per record week.
The first scenario favored breakouts based on “high priced” momentum. In this case, Bitcoin can be integrated within a narrow range of $122,000 to $124,000, forming a high frame base as volatility is compressed.
Such behavior usually precedes a gradual trend expansion, allowing the market to expand its price discovery stage through a slow grind to fresh highs. A sustained high position confirms this structure as a bullish continuation rather than a distribution.
Alternatively, the average return setup remained viable. This includes a corrective retest towards the key moving average of the 4-hour chart. This is the 50, 100, and 200 period exponential moving averages (EMA) for the liquidity pockets ranging from $118,500 to $120,000.
Pullback to this zone will reset short-term leverage, rebuild demand and maintain structural integrity, as long as $118,000 is held as a higher support.
Overall, the current market balance suggests integration within bullish strength. Whether it was a stable compression or a short fluidity sweep, the wider trend bias remained upward unless momentum medium fractures fell below the $118,000 region.
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This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.