Analyst: OG holders' selling pressure weakens, Bitcoin may target $107,000

Cryptoquant analyst DarkFrost stated that the selling pressure from OG holders has significantly decreased, with the 90-day average of spent UTXO dropping from a cycle high of about 2,300 BTC to around 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 shows that Bitcoin has entered a breakout phase, potentially targeting a price of $107,000. The driving factors include technical indicators, reduced selling pressure from long-term holders, and continuous outflows of BTC from exchanges. On the macro signal front, the correlation between Bitcoin and gold has turned negative, and historical data shows that in such cases, BTC typically averages a 56% increase within about two months.