Bitcoin Buyer Strength at $111K Signals More Upside
Bitcoin Buyer Dominance at $111K Signals Another Bullish Wave
Bitcoin's surge to new all-time highs above $110,000 is being met with unusual buying strength, hinting that the uptrend may be far from over. According to on-chain data from CryptoQuant, buyer activity remains dominant on exchanges, contrasting sharply with market behavior when BTC first reached $100,000 in 2024.
Buyers Dominate Bitcoin Order Books
A key metric—the 90-day cumulative volume delta (CVD)—shows a strong skew toward taker buy orders. This indicates that buy volume has consistently outpaced sell volume, with bulls regaining control of the market since early May.
CryptoQuant analyst Ibrahim Cosar highlights this trend:
“Buy orders (taker buy) have become dominant again. In other words, more buy orders are being placed in the market than sell orders. This generally signals that the uptrend may continue.”
Until mid-March, sellers dominated BTC’s order books, dragging prices to lows under $75,000 in April. The return of buyer dominance has coincided with Bitcoin’s breakout past $110K, suggesting bullish momentum may carry the rally even further.
Hodlers Remain Unmoved by Price Spike
Despite reaching new highs, Bitcoin holders aren’t rushing to sell. Profit-taking activity is significantly lower than during the December 2024 surge to $100,000 — even though the current price is 10% higher.
Glassnode confirms that long-term holders are staying put, with older coins showing minimal movement. This behavior indicates a strong belief in continued upside.
Moreover, Bitcoin’s recent rally aligns with a critical on-chain signal. CryptoQuant notes that BTC reclaimed the Short-Term Holder Average Cost Basis—just below $100,000—a level that often acts as a “buy-the-dip” zone during bull markets.
“Bitcoin is rallying after reclaiming the Short-Term Holder Average Cost basis — a key level that often serves as a strong buy-the-dip indicator during bull markets,” CryptoQuant stated.
With traders staying bullish, profit-taking low, and key support levels holding, the market could be setting up for another major leg higher in this ongoing bull run.
Disclaimer: The content on this website is for informational purposes only and does not constitute financial or investment advice. We do not endorse any project or product. Readers should conduct their own research and assume full responsibility for their decisions. We are not liable for any loss or damage arising from reliance on the information provided. Crypto investments carry risks.