Bitcoin closed its highest weekly candle at $119,310, achieving an all-time high of $123,100 on Binance. Presently, the short-term holder Net Asset Value (NAV) premium is at 16%, indicating moderate interest. Despite an 8.74% gain in Bitcoin's price, the current rally seems poised to continue as retail FOMO remains absent. Spot Bitcoin ETFs have recorded significant inflows, marking a structural shift in market momentum and assisting in price support. Historical patterns show that Bitcoin often experiences parabolic rallies following breaks above previous all-time highs, with expected short-term targets between $132,000 and $138,000. The analysis suggests that this could occur within a one to two-week timeframe, aligned with historical trends for post-breakout movements. The growing participation in the market signals potential for further gains despite being 23% below the year-to-date average in volume. This indicates a still-cautious market with room for further movement before facing any corrections.

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