Market analysts stated that Bitcoin’s (BTC), upside was still intact, despite a 2.5% decline from the multi-month peak of $82,800 it achieved on May 6th.
Takeaways from the conference:
- Bitcoin is now in expansion as the Bull Market Support Band has turned into support.
- Bitcoin’s Stablecoin Supply Ratio recovered from historical lows. It indicates fresh liquidity.
- Bitcoin spot taker CVD turns positive, indicating that real spot demand has returned
Bitcoin’s price momentum has expanded
Swissblock Private Wealth Manager stated that Bitcoins are a good investment. “still at full momentum,” The slight drop from the recent highs is still a positive sign.
Swissblock said that the latest rally saw the Bitcoin price momentum “successfully reignited and pushed back into full expansion territory.”
Related: Bitcoin funding rates turn positive: Is BTC rally to $85K next?
Bitcoin’s cost basis is consolidating, as the market means and the short term holder cost base of around $80,000 are acting as support. active realized price at $85,000 as resistance.
Meanwhile, “momentum remains structurally strong,” The wealth manager added:
“As long as momentum stays above the transition area, bulls retain control.”
Bitcoin price movement. Swissblock
The Great Mattsby echoes this statement. pointed ouIt is now clear that the Bull Market Support Band of Bitcoin has become a support. In addition, the 21-week moving exponential average has crossed above the 20 week simple moving moving average.
“The trend has officially flipped back to bullish.”
BTC/USD Weekly Chart Source: X/The great Mattsby
Bitcoin Liquidity Signals “strong recovery”
Stablecoin Supply Ratio has recovered its historical lower range of below 10; the same area that marked markets bottoms at mid-2021 and 2022.
Bitcoin has shown a significant rebound each time SSR recovers from its lows. This is illustrated in the following chart.
Bitcoin Stablecoin Supply: Source: CryptoQuant
SSR is recovering, which could mean that exchanges are regaining stablecoin liquidity. This would lead to another BTC bull run.
Binance’s Stablecoin Oscillator also tells the story. The graph below shows Bitcoin 90D’s Stablecoin supply ratio oscillator moving back to positive territory.
“This reflects a strong recovery from the negative zone, with stablecoin purchasing demand becoming more active during the current rebound,” CryptoQuant Analyst Zizcrypto said In a QuickTake Tuesday note, add:
“For context, the oscillator previously reached 2.43 in May 2025 and 4.00 in November 2024 — both during stronger market phases.”
Stablecoin supply ratio oscillator. Source: CryptoQuant
Bitcoin transaction volume is up 20 months.
Bitcoin network activity reflects the strength of BTC’s price. The daily transaction number increased by 116% to 831.450 in May.
The last time this metric reached similar levels was in September 2024. Bitcoin then soared to above $100,000 following the US Presidential election.
Bitcoins’ network activity is “more active than when it was at $100K,” Analyst CW8900 said On Saturday, I added:
“The network is already showing signals of a bull market.”
Bitcoin Daily Transaction Count Source: CryptoQuant
According to Glassnode, the daily number of active addresses has increased by 7.1% in the past week, to reach 707,719; while the total volume of fees increased 37%, to $279.300, over that same time period. Market Pulse report.
“Such a significant increase suggests heightened onchain activity, potentially signaling bullish market conditions.”
Bitcoin Daily Active Address Count Glassnode: Source for Bitcoin Daily Active Address Count
Increased transaction counts, active daily addresses and charges indicate that more users interact with the system. The high level of activity in the network is usually accompanied by increased market interest.
Bitcoin’s “real demand” The Back is Here
Bitcoin’s cumulative volume delta for spot-taker (CVD) over 90 days, a measurement of the difference between volume bought and sold in three months. “significant shift in capital flow structure,” According to CryptoQuant Analyst Rei Researchers.
Early May, the metric (green bars on the chart below), flipped to positive as the price broke through the $78,000 barrier and has been positive ever since.
“Taker Buy Dominance in the spot market indicates buying pressure from ‘major players’ (Whales/Institutions) looking to hold $BTC rather than just speculating via derivatives,” Rei Researcher said Additions to a Quicktake:
“Real demand has prevailed. When bulls are willing to pay higher prices to own $BTC, a sustainable uptrend usually follows.”
Bitcoin spot taker CVD. Source: CryptoQuant
It is possible that if the CVD stays green it will set the scene for another rally like in the past. In May 2025, a similar event accompanied BTC gains of 65%.
Additional data from Glassnode show that Bitcoin spot demand has also increased, as spot CVD rose 47% from $42 to $62 millions a week earlier.
“This increase indicates a significant uptick in buying aggression among market participants,” Onchain Data Provider said:
“This behavior implies heightened conviction, with aggressive traders actively setting higher market prices, potentially signaling continued bullish momentum.”
Spot CVD. Glassnode: Source
Cointelegraph reportedBitcoin’s Market Value to Realized Value (MVRV), suggests that BTC is growing in strength, which could be a sign of an early bull market.
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Source: cointelegraph.com
