Bitcoin has surged over 37.5% from mid-April, peaking at $105,490, after dipping below $75,000. Analyst Ali Martinez predicts a market peak of $120,000 if the $90,000 support holds. The Cumulative Value Days Destroyed (CVDD) metric indicates profit-taking by long-term holders, suggesting overheated market conditions, while reduced CVDD points to accumulation phases. Current CVDD is $34,154, with key support at $90,000. As of now, Bitcoin trades at $103,573, up 0.09%, with significant trading volume decline. Positive sentiment persists, buoyed by $1.81 billion inflows into Bitcoin Spot ETFs, confirming its dominance with a $2.04 trillion market cap.
Bitcoin prices have shown remarkable increases in recent weeks, driven by an ongoing price recovery. After dipping below the $75,000 level in mid-April, the asset’s value surged over 37.5%, reaching as high as $105,490.
Though the BTC market seems to be stabilizing, noted crypto analyst Ali Martinez anticipates that the leading cryptocurrency could hit a peak of $120,000 before this bull cycle concludes.
CVDD Metrics Suggest $120k Peak, Provided $90k Support Holds
The Cumulative Value Days Destroyed (CVDD) is an on-chain metric that gauges the total coin-days destroyed when inactive BTC is spent, reflecting the activity level of long-term holders.
Essentially, an increase in CVDD signals significant profit-taking among long-term holders, often indicating overheated market conditions. Conversely, reduced CVDD signals accumulation phases. According to the chart presented by Martinez, leading analytics firm CryptoQuant extrapolates Bitcoin’s current CVDD at $34,154 into multiple layers, each illustrating different facets of the bull market.
Firstly, there is the Accessing Tops—represented by the black line—which extrapolates the CVDD into an upper band that aligns with major price peaks, such as $20,000 in 2017 and $69,000 in 2021. Currently, the Accessing Tops is around $120,000, suggesting that this might be the next peak in this bull run.
Another key layer in CryptoQuant’s CVDD extrapolation is the Accumulating Phase 2, the secondary support band that has consistently bolstered prices throughout 2025. This level is currently situated at $90,000, establishing the first significant support line for bulls.
With Bitcoin’s current price at $103,242, Ali Martinez emphasizes that maintaining support at $90,000 is crucial for preserving Bitcoin’s bullish structure and facilitating a potential rise to $120,000.
Bitcoin Price Overview
As of the time of writing, Bitcoin is trading at $103,573, reflecting a modest market gain of 0.09% over the past day. Meanwhile, the asset’s daily trading volume has decreased by 17.92%, indicating a decline in market participation.
The next resistance level currently sits at $105,000. However, Martinez notes that significant positive developments will unfold only after the price closes above $107,000. Concurrently, bullish sentiments are strong, as illustrated by another solid performance from Bitcoin Spot ETFs, which have seen a net inflow of $1.81 billion in the past week.
With a market capitalization of $2.04 trillion, Bitcoin remains the most valuable digital asset, commanding approximately 62.8% of the cryptocurrency market.