- BTC Forms Golden Cross, Eyes Break Above $85.3K
- 15K BTC Withdrawn Signals Supply Tightening
- $150K Target Gains Steam as Holder Gap Widens
Bitcoin (BTC) is now trading around $84,700, holding firmly above key moving averages. Several on-chain and technical indicators are aligning, suggesting the next phase of the bull cycle may be underway. With exchange reserves declining, whale activity rising, and technical resistance levels in sight, traders are closely watching for a breakout. Analysts continue to predict higher targets in 2025, with $150,000 now in view.
On-Chain Metrics Reflect Strong Holder Confidence
According to a CryptoQuant post by Mignolet, over 170,000 BTC were moved recently by the 3–6 month holder cohort. Historically, similar movements have preceded large price swings. These shifts suggest experienced traders are positioning ahead of expected volatility.
Analyst Master of Crypto highlighted that short-term holders (STH) are currently at an average realized price near $92,700, while long-term holders (LTH) remain profitable with an average of $26,500. This gap often signals sharp moves ahead.
As noted, “either weak hands fold, or we rip higher.” Additionally, over 15,000 BTC were withdrawn from exchanges this week, supporting the narrative of reduced selling pressure and growing investor confidence.
Technical Indicators Build the Case for a Breakout
Crypto analyst Titan of Crypto observed a golden cross forming on the daily BTC chart, a signal where the 50-day moving average crosses above the 200-day. Historically, this has preceded strong rallies. At the same time, Bollinger Bands are widening, showing increased volatility, while RSI sits near 72, suggesting strong buying momentum.
CryptoQuant contributor Crypto Dan noted that the recent market cooling mirrors patterns from 2024. The short-term holder ratio has dropped to a cycle low, often a marker of local bottoms. This has strengthened calls that the correction phase is over.
If BTC clears the $85,300 EMA50 resistance, analysts suggest the next level to monitor will be $92,000. As observed by analyst Ted, Bitcoin’s lagged correlation with global M2 money supply also points to a reversal starting in May. Should current trends continue, many believe BTC may be on track to reach $150,000 by mid-year.
