#BTC Bitcoin Holders Hunker Down — On-Chain Patterns Signal a Big Move Brewing
Bitcoin continues to hover above a critical support zone as macroeconomic pressures and geopolitical tensions mount. Amid ongoing uncertainty in the Middle East and rising U.S. Treasury yields, the crypto market faces a precarious moment. Yet, despite the volatility, Bitcoin bulls appear to be holding strong. After surging from $74,000 to an all-time high of $112,000, BTC remains relatively steady around $105,000 — a level now acting as crucial short-term support. As global investors await clarity on inflation trends, interest rate policies, and geopolitical risks, Bitcoin’s price appears caught in a tight consolidation phase.
However, recent on-chain data suggests a major move could be imminent. According to CryptoQuant’s analysis, long-term Bitcoin holders are currently exhibiting extremely low spending activity — a pattern historically associated with accumulation phases. Notably, this behavior has preceded 18–25% rallies in three of the last four similar cycles within 6–8 weeks. This accumulation, coupled with reduced selling pressure, points to growing confidence among experienced investors.
CryptoQuant researcher Axel Adler emphasizes that the current on-chain signals mirror early-stage bull cycle setups. The binary Long-Term Holder indicator remains weak — often a precursor to trend continuation. Meanwhile, Coin Days Destroyed (CDD) Momentum has turned positive, and the MVRV Z-score (a measure of market value versus realized value) remains elevated, reinforcing the idea that Bitcoin is still undervalued from a long-term perspective.
Despite this strong technical foundation, short-term price direction remains vulnerable to external shocks. A breakthrough in the Israel-Iran situation or a dovish shift in monetary expectations could trigger a breakout above Bitcoin’s current range. Conversely, heightened volatility or bearish macro developments might delay the next leg of the cycle. For now, the market remains in wait-and-see mode.