Bitcoin has entered a strong accumulation phase for the first time since January, with prices surpassing $110,000, marking an 18% increase over the past month. Analysis from Glassnode shows that all wallet cohorts are now actively purchasing Bitcoin, indicated by an Accumulation Trend Score of 1.0. This shift reverses the previous trend of selling that occurred from January to April, where the price dropped from a high of $109,000 to lows around $75,000. The renewed demand is also supported by bullish sentiment in options markets, where the $300,000 June call option has gained significant traction, alongside notable positions around the $200,000 strike. This behavior aligns with trends seen in mature assets, which may indicate the start of a sustained bull cycle. Many in the market are closely observing these developments, particularly as volatility often follows an all-time high but could lead to extended growth if similar asset patterns hold. James Van Straten, a Senior Analyst at CoinDesk, has provided insights on these market movements and their broader implications.

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