Bitcoin’s remarkable price trajectory continues to captivate the crypto market, with the leading cryptocurrency surging over 37.5% since mid-April to reach $105,490. As bulls maintain momentum, on-chain metrics suggest a potential peak of $120,000 – but only if a crucial support level holds.
CVDD Analysis Points to $120K Bitcoin Target
According to renowned crypto analyst Ali Martinez and data from CryptoQuant, Bitcoin’s Cumulative Value Days Destroyed (CVDD) metric is painting a compelling picture for BTC’s next major move. The CVDD, currently at $34,154, has historically been a reliable indicator for identifying market tops and accumulation phases.
As previously reported, maintaining the $90,000 support level is crucial for Bitcoin’s continued upward momentum. This support coincides with CryptoQuant’s “Accumulating Phase 2” band, which has consistently underpinned price action throughout 2025.
SPONSORED
Trade Bitcoin with up to 100x leverage and maximize your profit potential
Understanding the CVDD Metric
The CVDD metric measures the total coin-days destroyed when dormant BTC moves, effectively tracking long-term holder behavior. A surge in CVDD typically signals profit-taking by veteran investors, while reduced activity indicates accumulation phases.
Key Price Levels to Watch
- Current Support: $90,000
- Immediate Resistance: $105,000
- Critical Breakout Level: $107,000
- Projected Peak: $120,000
Market Momentum and ETF Impact
Despite a 17.92% decrease in daily trading volume, bullish sentiment remains strong, supported by impressive Bitcoin Spot ETF performance. The latest data shows net inflows of $1.81 billion in the past week, demonstrating sustained institutional interest.
FAQ Section
What is the CVDD metric?
The Cumulative Value Days Destroyed (CVDD) is an on-chain metric that tracks long-term holder behavior by measuring the movement of previously dormant Bitcoin.
Why is the $90,000 level significant?
The $90,000 level represents a crucial support zone that aligns with CryptoQuant’s Accumulating Phase 2 band, historically supporting Bitcoin’s price during bull runs.
What could prevent Bitcoin from reaching $120,000?
A break below the $90,000 support level could invalidate the bullish structure and potentially lead to a significant correction before any further upside.
With Bitcoin’s market dominance at 62.8% and a market cap of $2.04 trillion, the cryptocurrency continues to lead the digital asset space. The coming weeks will be crucial in determining whether the predicted $120,000 target materializes.