There are effective fundamentals behind the rise in Bitcoin prices.

Recently, the price of Bitcoin (BTC) has surpassed the $125,000 level, reaching a new record. This significant rise has attracted the attention of investors while also provoking questions about the underlying dynamics of the market. According to data from the analytics platform Glassnode, this price movement of Bitcoin is not merely a speculative increase; it is assessed as a permanent rise supported by strong institutional and on-chain demand.

According to Glassnode's Market Pulse report, the main factors behind the recent price increases include ETF (Exchange-Traded Fund) inflows, spot market demand, and increased on-chain activity. The interest of institutional investors in Bitcoin is particularly observed with the contributions of ETFs to market dynamics. Additionally, the strengthening recorded between off-chain and on-chain indicators suggests that investor psychology has been positively affected.

Another significant indicator of this rise is the renewed risk appetite in the options market. Indeed, the buying pressure in the futures and spot markets is progressing in a way that supports a bullish structure for Bitcoin. Moreover, the increase in network activity and rising profitability rates are signaling that investors' confidence in Bitcoin has been restored.

Glassnode emphasizes that the recent record ETF inflows have revitalized institutional demand. This situation, combined with the capital flows and trading volumes on-chain, ensures that the price of Bitcoin rises on solid foundations. Among the most important points that investors should pay attention to are the developments in ETFs, price movements, and changes in on-chain activity.