Bitcoin’s price has topped $100K but on-chain data shows low short-term trading activity, hinting the real hype is still ahead.
Investors are mostly holding their coins tightly, and with short-term activity rising slowly, another major rally may be just getting started.
BTC’s growth and calm investor behavior suggest a healthy, early-stage bull run that could explode if FOMO kicks in later in 2025.
Even though the price of bitcoin is at an all-time high, on-chain data indicates that the market hasn't yet overheated. This divergence suggests that there may be more room for the present rise to continue. According to a new chart by Crypto Dan, short-term holder activity remains below prior peak levels seen in March and December 2024. This cooler behavior contrasts sharply with Bitcoin’s surge past $100,000, hinting that the real frenzy hasn’t even begun.
UTXO Patterns Suggest Calm Before the Storm
The chart tracks Bitcoin’s realized capitalization by UTXO age, revealing key insights into holder behavior. In past cycles, short-term UTXOs spiked to 14% during major market tops. These orange-brown bands signal high trading and active profit-taking. However, in mid-2025, these shorter-term age bands are climbing but still sit well below previous highs. That means traders are waking up, but widespread FOMO hasn’t kicked in.
Source: CryptoQuant
Additionally, between previous peaks, the UTXO age shifted toward long-term holdings. This trend shows investors preferred to sit tight rather than sell, even as prices cooled. Now, shorter-term activity is rising again—but not aggressively. Consequently, the pattern hints that we may be in the early stages of another high-volume cycle.
Investor Behavior Points to More Upside
Bitcoin's robust market growth is confirmed by its ascent from $30,000 in mid-2023 to over $100,000 now. The moderate on-chain turnover rate, however, indicates that many investors are still in the accumulating phase. A bullish image is created by the equilibrium between rising prices and little short-term hoopla.
Moreover, history shows that when short-term UTXO shares rise sharply, price rallies often follow. Hence, if that pattern repeats, Bitcoin may be gearing up for another leg higher in late 2025.
Crypto Dan believes this restrained market behavior strengthens the bull case. As new money enters and holders become more active, the next phase of this rally could see more explosive moves.
The post Bitcoin Rally May Just Be Starting as On-Chain Heat Cools appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
