New entrants are actively entering the BTC market, as evidenced by the rise of UTXO Age Bands. Most participants make a profit, as evidenced by the UTXO profit %. Long-term holders continue to hold positions despite a glut in the derivatives market.

The Spent Output Profit Ratio is positive, indicating the profitability of transferred tokens. The options market has seen a significant increase in call contracts over the past two months.

Probability models with a 500-day lag show that BTC is above two standard deviations at $90,000, with a third deviation near $101,000.