On-Chain Metrics Indicate Bitcoins Rally Potential as Long-Term Investor Demand Surges

On July 11, the price of the leading cryptocurrency surged past the $118,000 mark. This increase was fueled by a robust buying spree from long-term investors. According to data from CryptoQuant, the balance held by «accumulators» reached an annual high of 248,000 BTC.

Since June 22, this figure has escalated by 71%.

Such strong demand was last observed on December 20, 2025, when Bitcoin was priced at $97,000 and the number of coins held by investors peaked at an unprecedented 278,000 BTC.

Demand is rebounding following a drop in the fourth quarter of 2024. Although net interest remains in negative territory, it is rapidly increasing, indicating that buyers are solidifying their positions.

Analyst Axel Adler, a junior analyst, believes that the initial profit-taking point will occur at a price of $130,900.

The MVRV indicator needs to reach 2.75 for distribution to begin. The expert compared market capitalization to realized capitalization.

Glassnode noted an increase in realized capitalization by $4.4 billion upon surpassing $113,000.

This reflects active trading among investors rather than speculative growth, according to analysts.

Kyle Reidhead, co-founder of Milk Road, has set a target of $150,000 for the leading cryptocurrency. He identifies a bullish «cup and handle» formation that emerged in June.

Reidhead is confident of the asset’s continued growth after a return to $112,000.

«See you at $150,000,» he stated.

All of this creates favorable conditions for the continuation of the bullish trend as the third quarter begins.

Lee noted that a rise beyond $117,000 serves as a key signal for the market and may only represent a temporary pause before a new surge. The average predicted price for the leading cryptocurrency in the coming months is $125,000, with an expected trading range between $105,000 and $150,000.

Technically significant levels remain at $108,500 (support) and $130,000 (resistance). According to Lee, consolidation above $130,000 will pave the way for a new growth phase.

The expert also reminded us of a characteristic feature of the crypto market—high volatility:

«A sharp rise may be accompanied by a quick correction—down to $110,000 and even into the $100,000–105,000 range, where a crucial support zone lies. However, the fundamental trend remains positive.»

It’s worth noting that analysts from Standard Chartered have expressed the view that halving will no longer influence Bitcoin’s price.