Bitcoin Bulls Dig In: $95K Breakout Could Trigger FOMO Stampede

On-chain metrics show hodlers locking in profits at record highs—yet refusing to exit. A surge past $95K may unleash pent-up institutional demand (and the usual parade of latecomers chasing ’generational wealth’).

Key signals to watch: Exchange reserves drying up as whales move coins to cold storage, while retail leverage hits levels last seen before the 2021 blow-off top. The market’s either pricing in ETF inflows or ignoring macro risks—pick your narrative.

Bonus cynicism: Wall Street still can’t decide if crypto’s a hedge against inflation or a leverage play on loose monetary policy. Meanwhile, Bitcoin miners keep cashing out—someone’s gotta pay those energy bills.

Bitcoin’s gains could continue for some more time

Source: CryptoQuant

In a post on CryptoQuant Insights, analyst Darkfost pointed out that BTC’s supply in profit has been rising lately, which might be good news. The supply in profit above 90% generally marks euphoric phases, when Bitcoin has historically seen sizeable pullbacks.

And yet, these pullbacks wouldn’t be immediate. The hike in supply in profit hinted at confidence in BTC and can fuel its next bullish phase.

Source: CryptoQuant

This view was reinforced by the exchange netflows data. The 30-day moving average of the metric has trended lower over the past week and has been in negative territory in April. This signaled accumulation, as BTC moved out of exchanges and likely into cold storage.

The 7-day moving average saw a steep dive in April – A sign that the price pullback was accompanied by heavy accumulation. If the market lacked confidence in the token, the recent gains would have come alongside a hike in BTC flows to exchanges as holders prepared to take profits.

Source: Santiment

Finally, at the time of writing, the 30-day MVRV ratio was the highest it has been since December and January, raising the fear of selling pressure from profit-taking. And yet, the longer-term MVRV was only just turning positive. The 180-day and 365-day values were nowhere close to the levels from November and December.

Therefore, the metrics revealed that accumulation has been rapid as BTC entered another bullish phase. The long-term holders are not at significant profit levels yet, based on the MVRV. This rally has more room to grow. Data from the liquidation heatmap showed that the $101k and $106k levels would be the next price targets.