Bitcoin’s miner reserves remain stable, suggesting that miners maintain confidence in future price growth. Notably, institutional investments, particularly from firms like BlackRock, are contributing to a bullish sentiment in the Bitcoin market.

As of now, Bitcoin is trading at 88,020.88 USD, marking a 1.53% increase in the last 24 hours. This upward trend is supported by resolving a descending trendline, reflecting strong buying interest in the current price range.

With 78.28% of Bitcoin addresses in profit and a favorable Net Unrealized Profit/Loss (NUPL) reading of 0.501, market conditions appear conducive for Bitcoin’s growth. These indicators point to solid support and the potential for a bullish breakout.