Bitcoin Reached $105,346: Data Indicates a Buying Market
As of June 14, 2025, Bitcoin (BTC) is trading at $105,346 with a 1.0% daily increase, according to CoinGecko data. The trading volume in the last 24 hours is $33.9 billion, and the market cap is measured at $2.09 trillion. Recovery attempts are notable in daily charts. However, the real determinant is the market signals provided by on-chain data as much as technical indicators.
CryptoQuant: Buying Pressure Increasing in Spot
According to CryptoQuant's data, the Spot Taker CVD (90 days) indicator is still in a 'Taker Buy Dominant' position. This indicates that buying orders are dominant in the order book and that the short-term rise is driven by buyers.
In futures markets, retail investors are active in leveraged trading. The 'Futures Retail Activity' indicator is at the 'Many Retail' level, while the 'Futures Average Order Size' metric indicates that these transactions are based on small positions, meaning institutional investors have not yet strongly participated.
94% of Investors in Profit, Low Selling Pressure
According to IntoTheBlock, 94% of Bitcoin supply is in profit, with only 2% in loss. This ratio shows that the majority of investors are not creating selling pressure and are holding their positions. Additionally, 75% of investors have held their BTC for over a year, indicating that the market remains largely focused on the long term.
Mixed Outlook in Exchanges: Whales Silent, Net Inflows Limited
While the whale ratio remains steady at 12%, a net exchange inflow of $331 million was detected across the network.
This data suggests that institutional investors remain cautious and are entering the market in a controlled manner.
Featured On-Chain Indicators
CryptoQuant data highlights the following critical points regarding market trends:
Exchange reserves: Decreased by 0.4% to 2.49 million BTC. Decreasing reserves indicate that selling pressure is weakening.
MVRV ratio: Increased by 0.92% to 2.22. This indicates that while there is still a reasonable valuation in price, there is a marginal risk of overvaluation.
Open Interest: Decreased by 1% to $33.6 billion. This indicates a temporary slowdown in leveraged trading.
BTC flow to exchanges: A net outflow of 10,627 BTC was experienced in the last 24 hours (5.6% decrease). The fact that investors are moving their BTC to personal wallets indicates that there is no intention to sell.
Market Signals: “Mostly Bullish”
IntoTheBlock's summary signal screen indicates a “mostly bullish” outlook with 4 neutral and 2 positive indicators.
The 'Smart Price' metric shows a negative deviation of 0.01% with buying price behavior.
Bid-ask balance is tilted 2.54% in favor of buyers.
Conclusion: Rally Potential Continues, But Institutional Approval is Awaited
Although Bitcoin's technical and on-chain indicators generally show positive signals, it appears that institutional investors remain cautious. While retail buying appetite supports the market, the involvement of institutional volumes is critical for a strong and lasting rally. For now, cautious optimism prevails in the market.
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