Analyst: OG Holder Selling Pressure Eases, Bitcoin May Target $107,000

Odaily News Cryptoquant analyst DarkFrost stated that the selling pressure from OG holders has significantly decreased. The 90-day average of spent UTXOs has dropped from the cycle high of around 2,300 BTC to the level of 1,000 BTC. The current trend leans more towards holding, which aligns with the largest net outflow of Bitcoin from exchanges since December 2024. Analysis indicates that Bitcoin has entered a breakout phase and may target a price of $107,000. Driving factors include technical indicators, reduced selling pressure from long-term holders, and continuous BTC outflows from exchanges. Regarding macro signals, Bitcoin's correlation with gold has turned negative. Historical data shows that in such cases, BTC has typically risen by an average of 56% within approximately two months.