Bitcoin's market momentum has surged by 51.7%, surpassing previous highs, according to the latest Glassnode report. Aggressive spot buying and robust ETF demand have driven this increase, with futures open interest rising by 7.2%. However, funding rates have turned negative, indicating that speculators are beginning to hedge their positions. On-chain data reveals a slight decline in active addresses as the market enters a consolidation phase. Despite this, long-term holders are gaining dominance, while short-term speculative capital is decreasing. The proportion of circulating supply in profit has increased, alleviating market pressure and signaling a strong bullish sentiment with a shift towards higher stability.