Bitcoin Buyers Still in Control as Price Hits New Highs
Bitcoin (BTC) has reached a new all-time high of around $110,932, and buyers continue to dominate the market. Despite a 50% price increase in less than two months, people are still eager to buy.
According to data from the analytics platform CryptoQuant, the number of buy orders (people buying BTC) is much higher than sell orders. This is based on a metric called the 90-day cumulative volume delta (CVD), which tracks the difference between buy and sell activity over three months.
CryptoQuant analyst Ibrahim Cosar says, “Buyers are in control again, which usually means the price could keep going up.”
Back in March and early April, sellers were more active, and the BTC price dropped below $75,000. But in May, buyers took over again as the price climbed past $110,000.
Cosar adds, “Even at record highs, buyers are not backing down. This could lead to even more price increases.”
Long-Term Holders Are Not Selling
Many long-term Bitcoin holders — also known as "hodlers" — are choosing to hold onto their coins instead of selling, even as prices rise.
When Bitcoin first hit $100,000 in December 2024, many people took profits. But now, even with the price 10% higher, profit-taking has dropped by half.
According to another analytics firm, Glassnode, older Bitcoin holders are not moving their coins as much, showing stronger confidence in holding.
CryptoQuant also noted that Bitcoin's momentum picked up after the price moved above the average purchase cost of short-term holders (those who bought in the last six months), which was just under $100,000. Historically, this level has been a strong signal for more upward movement in bull markets.
