- Long-term Bitcoin holders show strong conviction as selling pressure stays low around $111K.
- On-chain data supports a bullish structure, signaling a potential rally toward $150K.
Bitcoin has once again shown interesting signs after a consolidation phase that has persisted for the past few weeks.
Despite a slight drop to around $108,884, down 0.71% in the last 24 hours and 1.14% in the last 4 hours, optimism remains dominant among on-chain analysts.
Daily spot trading volume reached $6.95 billion, while market cap remained at $2.18 trillion. Meanwhile, open interest remains high at $71 billion, indicating that speculative interest in the next move has not subsided.
Strong Holder Conviction Builds the Base for the Next Rally
On-chain analyst PelinayPA on CryptoQuant believes Bitcoin remains within a healthy market structure. Based on his data, the price peaked around $120,000–$125,000 before a slight correction to $111,000.
Interestingly, however, the Exchange Inflow Coin Days Destroyed (CDD) metric remains low, indicating that long-term holders are not flocking to exchanges. In market parlance, selling pressure from “old hands” is barely felt.
According to PelinayPA, a spike in inflow appeared in June 2025 as a sign of partial profit-taking, but the market quickly absorbed it. She said:
“The data shows that long-term holder confidence remains strong.”
She added that this pattern lays the foundation for a potential subsequent rally that could take the price to $150,000.
Interestingly, from September to October, the CDD chart stabilized at a low level. This indicates that the distribution phase has subsided, and the market is now consolidating calmly.
Some analysts have described this situation as “taking a deep breath before running again.” In the context of Bitcoin’s market cycle, this pattern usually lays the foundation for a further rally.
Bitcoin Poised for a Parabolic Breakout
Positive sentiment also came from popular analyst Javon Marks. He believes Bitcoin is poised to break out against USDT dominance, which could trigger the next major rally.
According to Marks, the measured movement indicates the potential to reach over $180,000 and even break $200,000.
Bitcoin is looking ready to breakout against USDT Dominance and this could result in another huge bullish move for BTC, perhaps the parabolic move prices are known to showcase each cycle.
Measured moves show that Bitcoin can reach over $180,000, even up to $200,000…$BTC pic.twitter.com/xTNPjpu0mh
— JAVON MARKS (@JavonTM1) October 20, 2025
Furthermore, last week’s CNF report reinforces this optimism. Historical data shows that large liquidations in the Bitcoin market often clear out excess leverage, making the market more ready for the next rally.
In October 2025, on-chain signals again indicated a “healthy reset” phase, triggered by an influx of funds from Bitcoin ETFs and increasing institutional liquidity.
Furthermore, the demand trend from large investors also suggests that this correction phase remains on a long-term bullish path.
With low selling pressure, high holder confidence, and liquidity flowing from the institutional sector, Bitcoin appears to be preparing for a new foothold before climbing higher.
On the other hand, we recently highlighted that Japan’s FSA may soon allow banks to hold Bitcoin. Also, major banks are eyeing the launch of yen-backed stablecoins as crypto accounts surge past 12 million.