Bitcoin Above $120K Could Reflect Aggressive Longs and Growing On-Chain Demand

Bitcoin price has surged above $120,000 driven by aggressive taker buy volume and rising on‑chain demand; active receiving addresses and increased futures order sizes point to short‑term bullish momentum for BTC but a failed hold below $120K could trigger a ￰0￱ taker buy volume pushed BTC above $120K. Active receiving addresses jumped to ~548K, indicating renewed ￰1￱ flows show larger average order sizes and stronger institutional ￰2￱ price surges above $120K; aggressive buying and rising on‑chain demand signal short‑term bullish momentum — read analysis and key ￰3￱ is driving Bitcoin’s recent surge above $120K? Bitcoin price moved above $120,000 primarily because aggressive taker buy volume outpaced sell pressure, and on‑chain metrics show a rapid rise in active receiving ￰4￱ derivatives order flow and coordinated retail-institutional accumulation front‑load bullish momentum for BTC in the near ￰5￱ does aggressive long positioning affect BTC momentum?

Market order‑flow data indicates that taker buy volume — traders paying the offer to open or add longs — has meaningfully ￰6￱ taker buys exceed taker sells, price discovery tends upward because buyers accept higher prices ￰7￱ behavior suggests traders expect continuation rather than short‑term mean reversion.