Cryptoquant: Selling pressure from OG holders weakens, Bitcoin may attempt to reach the target price of $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 the level of 1,000 BTC. The current trend leans more towards holding, which is consistent 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, weakened 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 indicates that in such cases, BTC typically averages a 56% increase within about two months.