Bitcoin Soars to $111K: Are We On the Verge of Another Bull Run? 🚀

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Key points:

  • Bitcoin buyers are still throwing money around like it’s going out of fashion at all-time highs, despite the first flirt with $100,000 in 2024. 🎉

  • Crypto analysts suggest that the upward climb “may continue,” so hold onto your hats—or your bitcoins, at least.

  • Short-term holders are in the green, hinting that we might be heading for yet another coin-powered rollercoaster of gains.

Bitcoin (BTC)—the digital gold that no one can quite seem to stop talking about—is maintaining its grip on the exchanges as everyone gets all excited about hitting a fresh all-time high. Data from CryptoQuant—think of it as the nosy neighbor of onchain analytics—shows that over the past three months, the bulls have been winning the tug-of-war. This is no small feat when considering that just a short while ago, all the signs pointed to a snowballing sell-off when BTC plunged below $75,000 in early April.

CryptoQuant: BTC price uptrend “may continue”

Traders continue to band together like a caffeinated flock, keeping the Bitcoin price high despite a jump of 50% in less than two months. This is the kind of rally that makes stockbrokers look bored. Ibrahim Cosar, a keen-eyed CryptoQuant contributor, reports that buy orders are now dominating the market again—meaning, people are more eager than ever to buy Bitcoin than to sell, which probably means good things for everyone who’s hoping prices will keep climbing.

“This generally signals that the uptrend may continue.”

Trade volumes over the past three months show that pressure from sellers was stronger than a Tuesday morning hangover, but since then, buyers have been snapping up Bitcoin faster than hotcakes at a bakery. Currently, as Bitcoin blinks its way above the $110K mark and hits new records, the market’s mood seems as buoyant as a bobbing cork underwater.

Bitcoin hodlers hold off on sales — no cashing out just yet! 💸

According to CryptoMoon—your digital crystal ball—holders are keeping their coins locked tighter than grandma’s cookie jar. Daily profits taken off the table are now half of what they were back in December 2024 when Bitcoin first reached the $100,000 milestone. So it looks like folks are playing the long game instead of rushing to cash in. Glassnode, another analytics firm, adds that “older coins were much less active,” which sounds suspiciously like a bunch of wise investors deciding, “Nope, not selling just yet.”

Coin age distribution shows the shift:

🔺 76.9% (May 2025)
🔻 44.6% (Dec 2024)

>6m-old coins:
🔻 13.4% (May 2025)
🔺 24.7% (Dec 2024)

Older coins were much less active this time, signaling stronger holding behavior.

— glassnode (@glassnode) May 22, 2025

CryptoQuant highlights that Bitcoin’s momentum kicked into higher gear after the price managed to reclaim the “average cost basis” for short-term holders (those who bought within the last six months) at just below $100,000. Think of it as the moment the market collectively said, “Yep, I’m in for the long haul.” That’s usually a bullish sign that the market might keep climbing, so feel free to pretend you’re a professional trader while nervously biting your nails.

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2025-05-23 12:13