Odaily Planet Daily reported that Cryptoquant analyst DarkFrost stated that the selling pressure from OG holders has significantly decreased. The 90-day moving average of spent UTXOs has dropped from a cycle high of approximately 2,300 BTC to around 1,000 BTC. The current trend is more inclined towards holding, consistent with the largest Bitcoin exchange net outflows since December 2024. Analysis indicates that Bitcoin has entered a breakout phase, potentially targeting a price of $107,000. Driving factors include technical indicators, weakening selling pressure from long-term holders, and continuous outflows of BTC from exchanges. On the macro front, the correlation between Bitcoin and gold has turned negative. Historical data shows that in such cases, BTC typically rises by an average of 56% within about two months.
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