The post Signs of an Explosive Move Above $110K for the BTC Price? This Analyst Clarifies appeared on BitcoinEthereumNews.com.

Pseudonymous CryptoQuant analyst Avocado_onchain sees Bitcoin’s latest consolidation, after plunging to $98,467 before a shaky recovery, not as stagnation but as coiled energy. Data provided by the market watcher shows that long-term holders (LTHs) are steadfastly accumulating rather than distributing, a historical hallmark that often precedes explosive rallies by the king cryptocurrency. Market Tension Meets On-Chain Calm Over the past week, BTC weathered increased volatility caused by escalating tensions in the Middle East as the U.S. bombed several suspected Iranian nuclear facilities. As CryptoPotato reported, on June 22, the asset plunged below $100,000, with the shockwave of the U.S. attack wiping out as much as $700 million in leveraged positions. At the same time, altcoins like Ethereum (ETH) and Solana (SOL) suffered losses of their own, dipping 6% and 7% respectively. Despite the turmoil, Bitcoin’s dominance grew, reflecting a flight to relative safety amid a broader market steeped in red. Against this background, the latest CQ report paints a picture of deliberate accumulation by LTHs. The 30-day moving average of the Binary Coin Days Destroyed (CDD) indicator, a metric tracking when long-held coins move, peaked around 0.6, dropping well below the 0.8 threshold. This implies that seasoned investors are not rushing to sell, signaling that the bull cycle remains structurally intact. “This moderation below 0.8 still implies the market may be entering a consolidation period, and further price or time correction could follow,” noted Avocado_onchain. “Historically, Bitcoin’s explosive rallies tend to occur when market attention fades and sentiment is quiet, making the current silence potentially a precursor to the next big move.” Meanwhile, data from Glassnode shows that short-term holders (STHs), who have been in the market for under 155 days, are sitting on slim 3% unrealized gains, suggesting limited profit-taking pressure from recent buyers. Price Holds Key Support Amid…

---

Filed under: News - @ June 23, 2025 2:27 pm