Bitcoin has maintained its position above the $100,000 mark since early May, peaking at $112,000 and signaling strong bullish sentiment. This historic breakout has set the stage for a potentially massive run, as institutional demand, macroeconomic pressure, and on-chain dynamics align. However, despite bullish control, the market is beginning to show signs of hesitation. Growing global tensions, particularly around trade policies and rising US Treasury yields, are creating uncertainty across financial markets, and Bitcoin is not immune.
On-chain data sheds light on evolving investor behavior. The Coin Days Destroyed (CDD) indicator—which tracks how long Bitcoin has been held before being moved—reveals that while the 90-day moving average remains moderate around 14 million CDD, the 21-day