**Key points:**

* Bitcoin buyer interest remains strong at all-time highs, contrasting with the first touch of $100,000 in 2024.

* The BTC price uptrend “may continue” as a result, CryptoQuant analysis concludes.

* Bitcoin short-term holders are firmly in the black in a further potential bull market boost.

Bitcoin (BTC) buyers remain dominant on exchanges as all-time highs are met with unusual optimism.

Data from onchain analytics platform CryptoQuant shows a 90-day cumulative volume delta (CVD) favoring Bitcoin bulls.

## CryptoQuant: BTC price uptrend “may continue”

BTC price all-time highs continue to find support among traders, with buyers staying dominant despite the market surging 50% in under two months.

Analyzing 90-day CVD, CryptoQuant contributor Ibrahim Cosar reveals the extent to which sellers have ceded control during that period.

“In short: Buy orders (taker buy) have become dominant again. In other words, more buy orders are being placed in the market than sell orders,” he summarizes.

> “This generally signals that the uptrend may continue.”

_Bitcoin spot taker CVD. Source: CryptoQuant_

CVD measures the difference between buy and sell volume over a three-month period. Until mid-March, sell-side pressure dominated the order book, with BTC/USD hitting multimonth lows under $75,000 in early April.

Neutral conditions then prevailed until buyer dominance reentered in May.

“The summary of the situation: As the price tests above $110K and reaches a new all-time high (ATH), buyers have not backed down. This could be setting the stage for another wave of upward movement,” Cosar concludes.

## Bitcoin hodlers hold off on sales

As Cointelegraph reported, hodlers have broadly refrained from distributing coins to the market at current levels.

_**Related:**__**Bitcoin ‘looks exhausted’ as next bear market yields $69K target**_

Daily profit-taking is half of what it was when Bitcoin first reached $100,000 in December 2024, research shows, while the price is 10% higher.

“Older coins were much less active this time, signaling stronger holding behavior,” onchain analytics firm Glassnode added in an X thread on the topic.

> Coin age distribution shows the shift: > > 🔺 76.9% (May 2025) > 🔻 44.6% (Dec 2024) > > >6m-old coins: > 🔻 13.4% (May 2025) > 🔺 24.7% (Dec 2024) > > Older coins were much less active this time, signaling stronger holding > behavior. pic.twitter.com/8PZq8p3ZX7 > > — glassnode (@glassnode) May 22, 2025

CryptoQuant notes that price momentum increased after reclaiming the average cost basis for Bitcoin’s short-term holder (STH) cohort at just under $100,000 — entities buying within the last six months.

“Bitcoin is rallying after reclaiming the Short-Term Holder Average Cost basis — a key level that often serves as a strong buy-the-dip indicator during bull markets,” it told X followers.

_Bitcoin STH cost basis data. Source: CryptoQuant_

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.