On-Chain Data Tips Bitcoin To Peak At $120,000 – But On This Condition

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Meanwhile, reduced CVDD action marks accumulation phases.  Based on the chart presented by Martinez, prominent analytics firm CryptoQuant extrapolates Bitcoin’s current CVDD at $34,154 into multiple layers, each representing different aspects of the bull market.  Firstly, there is the Accessing Tops, i.e, the black line which extrapolates the CVDD into an upper band that the price has reached at the major tops, such as at $20,000 in 2017 and $69,000 and 2021.

Related Reading: Golden Ratio Multiplier Called Bitcoin Top In 2021 – Here’s What It’s Saying Now CVDD Metrics Hint At $120k Peak, But Only If $90k Support Holds The Cumulative Value Days Destroyed (CVDD) is an on-chain metric that measures the total coin-days destroyed when dormant BTC moves, thus capturing the spending activity of long-term holders.

It is presently positioned at $90,000, marking the first major support line for bulls.  With the present Bitcoin price at $103,242, Ali Martinez warns that preserving the price support at $90,000 is critical to maintaining Bitcoin’s bull structure and enabling a potential rise to $120,000.

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Article Details

Author / Journalist: Semilore Faleti

Category: Crypto

Markets: United Kingdom

Topics: Btcusd Cryptoquant Bitcoin Ali Martinez CVDD Bitcoin Bitcoin spot ETF BTCUSDT

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Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-18 @ 14:30:46 (13 hours ago)

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News Source URL: newsbtc.com

Language: English

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