Bitcoin has entered uncharted terrain after surpassing its all-time record of $112,000 on Thursday. This is igniting an explosive new phase in bull market. The bulls now have the upper hand as prices hover above $117,000. As optimism grows in the crypto-market, the bulls remain in full control. This breakout follows weeks of tight consolidation. It signals renewed investor and trader confidence.
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CryptoQuant data on the chain adds more support to the bullish story. The Coin Days Destroyed (CDD) metric—used to assess whether long-term holders are selling—has returned to a relatively low average despite the rise in price. The CDD metric, which is used to assess whether long-term holders are selling their coins, has returned to a relatively low average despite the rise in price.
Bitcoin’s momentum is accelerating and long-term owners are mostly inactive. Bitcoin seems to have entered a crucial phase. The macroeconomic environment is favorable, with the demand for risky assets on the rise. BTC behaves at these new highs—and whether the rest of the crypto market will follow its lead.
Bitcoin prepares for massive growth
Bitcoin’s price continues to rise above psychological and technical key levels. This indicates that the cryptocurrency market may be entering a phase of expansion with the possibility for an explosive surge. Bitcoin’s structural outlook is becoming more bullish, after it cleared its all-time record and consolidated around $117,000 dollars. The data indicates that long-term investors aren’t leaving the market.
Darkfost is a top analyst who shared his thoughts relevant insights The Coin Days Destroyed Metric (CDD) is a useful tool to evaluate long-term investor activity. CDD measures how long Bitcoins remain unmoved prior to a transaction, which reveals long-term participant behavior. The metric spiked recently, causing initial concern about possible distribution. However, it was later confirmed that the move involved 80,000 BTC in an internal transfer — no actual selling occurred.
CDD’s price has fallen to its lows since then, especially compared with Bitcoin, which is soaring in value. The CDD is still at its previous low range, despite the fact that Bitcoin’s price has soared. This indicates long-term owners aren’t in any hurry to get out of their positions. This reflects their growing expectation of rising prices in the near future.
Bitcoin is poised to continue its upward trend. So long as the key support levels remain intact and long-term owners are inactive, this setup is favorable for an explosive price move.
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Momentum increases as Price Discovery kicks in
Bitcoin’s three‑day chart shows a textbook breakout from eight weeks of compression. Thursday’s candle closed firmly above the former record cluster at $109,300, opening the door for a vertical push that carried price to $118,800 on the very next print. The candle body towers well above the 50‑period SMA, while the 100‑ and 200‑period averages slope higher beneath, confirming a bullish long‑term structure.
Any orderly test that moves into this zone will likely bring back buyers who were sidelined. Below it, $103,600—the mid‑range support that capped drawdowns all spring—remains the line in the sand for the current trend.
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Upside projections derive from the height of the year‑long range (~$15 k). Adding that measure to the breakout point targets $124–125 k as the next logical objective, with the psychological $120 k round number a potential interim stall area. Momentum oscillators on medium time‑frames are stretched but not at extreme levels, suggesting room for continuation before a cooling period becomes necessary.
TradingView chart with Dall-E image.
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Source: www.newsbtc.com
