📊 On-Chain Signals Flash Green: Is $120K Bitcoin’s Final Destination?

Bitcoin has surged 37.5% from its mid-April dip below $75,000, now hovering around $105,500. And according to top crypto analyst Ali Martinez, the bull cycle may not be over just yet — with $120,000 still in sight.

CVDD Data Points to a $120K Peak — If $90K Support Holds

The key metric in play: Cumulative Value Days Destroyed (CVDD) — an on-chain signal tracking long-term holder activity.

• Rising CVDD = profit-taking = potential local top

• Falling CVDD = accumulation = potential continuation

Martinez highlights that the current CVDD-based upper band (“Accessing Tops”) sits at $120,000, aligning with historic peak behavior seen at $20K (2017) and $69K (2021).

The $90,000 support zone, dubbed “Accumulating Phase 2” in CryptoQuant’s CVDD model, has held up throughout 2025 — and remains a critical level for bulls to defend.

What Comes Next?

• Current Price: $103,573

• 24h Volume: Down 17.92% — lower retail activity

• Next Resistance: $105,000

• Breakout Confirmation: A close above $107,000

Martinez notes that true momentum will return if Bitcoin breaks and holds above $107K — especially as institutional appetite remains strong. Bitcoin Spot ETFs recently saw $1.81B in net inflows, reflecting ongoing bullish sentiment.

Big Picture:

Bitcoin dominates 62.8% of the crypto market, with a $2.04T market cap. As long as the $90K support remains intact, $120K is not just a dream — it’s a realistic technical target.

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