Bitcoin Flashes Rare 'Double Super Signal' – Why It Matters

• Bitcoin's back-to-back 'super signals' indicate explosive gains—last seen before the 10,000% rally.
• More than 94% of Bitcoin holders were in profit as the volume trend suggested strong bullish sentiment ahead.

of bitcoin [BTC] The Volume Oscillator has recently signaled back-to-back 'super signals', a rare event that has only occurred during major bull runs.

Historically, such signals preceded huge rallies with gains of 10,000% in 2012 and 3,000% in 2016.

After the last event seen in September 2023 was a +200% increase in Bitcoin price, another super signal appeared in October 2024.

Source: X

A 'super signal' occurs when trading volume is extremely low in a bullish market. the analyst advice That these conditions indicate savings, as sellers decrease when buying interest remains constant

The absence of a prior high-volume spike further supports a bullish view, distinguishing this phase from a bearish low-volume pattern.

Bitcoin price growth and market data

As of press time, Bitcoin was valued at $68,378.05, with a market capitalization of $1.35 trillion and a 24-hour trading volume of $24.5 billion.

It marked a 5.96% increase in the last seven days, displaying steady gains. Bitcoin's circulating supply stands at 20 million BTC.

Open interest in bitcoin futures rose 2.39% to $40.69 billion at press time, indicating increased trading activity and possible bullish sentiment.

CoinGlass data showed Trading volume jumped a 90.33% to $42.62 billion, while options volume rose 182.07% to $1.60 billion.

Option open interest also increased by 2.29%, now at $24.31 billion. The alignment of these metrics with Bitcoin price movements suggests growing optimism among traders.

Bullish sentiment

Data from IntoTheBlock shows that 94% of Bitcoin holders were in profit at the current price, indicating positive market sentiment.

The analysis also revealed that 71% of Bitcoin holders have held their positions for more than a year, suggesting strong long-term holding behavior.

Meanwhile, 12% of the Bitcoin supply was held by large holders, indicating a moderate concentration of ownership among whales.

Source: IntoTheBlock

Additionally, there was a net outflow of $234.54 million from exchanges last week, pointing to potential savings as investors move assets into cold storage.

Over $105.29 billion traded over $100K last week driven by institutional investors and large traders.

Read Bitcoin [BTC] Price Forecast 2024 – 2025

The geographical distribution of transactions is fairly balanced, with 54% from the western region and 46% from the eastern region.

Overall, the appearance of back-to-back supers signals a unique event in Bitcoin history, creating anticipation for potential price movements similar to previous bull cycles.