Bitcoin Smashes Through $100K – Metrics Signal Bull Run Has Legs
BTC isn’t just holding six figures—it’s flashing textbook continuation patterns. On-chain data shows whales accumulating, retail FOMO ticking up, and derivatives markets leaning bullish.
The ’digital gold’ narrative gets a steroid shot as traditional markets wobble. Even the SEC’s usual saber-rattling can’t dent momentum this time.
Of course, Wall Street will find a way to sell you a leveraged ETF tracking the hype cycle. Some things never change.
Retail Returning to Markets
Glassnode reported that Bitcoin’s realized capitalization has added almost $30 billion after a period of stagnation in April. The metric is growing at roughly 3% per month, it added.
However, while the uptick confirms renewed capital inflows, the pace still lags behind the aggressive accumulation seen in November and December 2024 following the election of US President Donald Trump.
It also observed that Bitcoin’s long-term holder realized price has climbed to $45,340, “reflecting the aging of coins bought around $90K to $100K into long-term status.” Buyers from December are now long-term holders, “gradually lifting the cohort’s cost basis,” it added.
After a period of stagnation in April, #Bitcoin‘s Realized Cap has added nearly $30B, currently growing at ~3% monthly. While the uptick confirms renewed capital inflows, the pace still lags behind the aggressive accumulation seen in Nov–Dec ’24. pic.twitter.com/kE6EbuevlC
— glassnode (@glassnode) May 14, 2025
This signals reduced selling pressure as distribution risk from the long-term holder cohort eases, keeping sentiment bullish.
Meanwhile, CryptoQuant analysts reported that retail was returning to Bitcoin markets. On May 14, they noted that small retail investors with balances below $10,000 were gradually returning to Bitcoin, signaling renewed market confidence.
From April 28 to May 13, there was a 3.4% increase in purchases from this group. “As they enter the market, they tend to create a positive feedback loop, reinforcing bullish narratives and increasing buying pressure,” they said.
BTC Price Outlook
Bitcoin’s intraday high was just over $104,000 on Wednesday, but markets have cooled off since, with the asset falling below $102,000 during the Thursday morning Asian trading session.
It has spent a week holding above six figures, however, and the longer it does so, the more likely it is to MOVE higher.
BTC has made 20% over the past month and is currently just 5.6% away from its January all-time high of $108,786, according to CoinGecko.
Technical analyst Tony Severino said that range breakouts “tend to be strong and happen in one large weekly candle,” suggesting that this could happen by the end of May.
Range breakouts in bitcoin tend to be strong and happen in one large weekly candle, closing above the upper Bollinger Band for confirmation
Bulls want to see this within two weeks, leading to a strong May close pic.twitter.com/LydL73how3
— Tony “The Bull” Severino, CMT (@TonyTheBullCMT) May 14, 2025
