Bitcoin has reached new all-time highs, with a surge in long positions in the futures market driving funding rates upward. This pattern aligns with post-halving events, suggesting that while a short-term pullback may occur, it does not indicate the end of the bull market. Instead, rising funding rates often signal the beginning of a more robust bull run.

In the spot market, profit-taking is evident as long-term holders distribute to new entrants. Mid-term holders, particularly those in the 6-18 month range, are realizing gains, a common occurrence in previous bull markets. Public interest is expected to rise, reinforcing a positive outlook for the market.