🎉 Bitcoin's recovery is almost complete, with the Realized Cap reaching $460B, just 3% shy of its all-time high (ATH)! 🚀 Exchange inflow volumes are also near ATHs, indicating strong demand for speculation and trading activity. 📈

Open interest in futures and options markets are near ATHs too, with short-sellers betting against the uptrend and resulting in over $465M in liquidation volume over the last 30 days. 😮

The average Bitcoin investor now holds an unrealized profit of +120% per coin, and short-term holders are depositing over $2B of volume to exchanges daily, showing high speculative interest in the current market. 🤑

With the introduction of new Bitcoin ETF products, institutional investors can now gain exposure to BTC via traditional rails, opening up new possibilities for demand and speculation. 🌐

In summary, risk appetite has returned in style, with capital inflows accelerating and increased activity in derivative instruments. However, many traders continue to bet against the prevailing uptrend, leading to substantial liquidations. 📉 Will the market continue its upward trajectory? Only time will tell! ⏳