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Bitcoin surge momentum is back as the world’s largest cryptocurrency reclaims the $100,000 mark for the first time in months. At the time of writing, BTC is trading around $102,000, gaining nearly 4% in the past 24 hours.

On-Chain Indicators Flash Bullish for the First Time in Months

One of the most reliable signals of market sentiment—the CryptoQuant Bull-Bear Market Cycle Indicator—has finally flipped bullish. After flashing bearish since February 24, 2024, the tool now shows a positive shift.

From FOMO to Fundamentals: Retail Surges into Bitcoin

“From April 28th, when this trend turned positive, until May 13th, there has been a +3.40% increase in purchases by this group, reflecting a significant recovery in small investor interest.” – By @oro_crypto pic.twitter.com/ohm5PDwq06

— CryptoQuant.com (@cryptoquant_com) May 14, 2025

Though the bullish coefficient is still low at 0.029, it marks the first green signal in over two months, suggesting a possible trend reversal.

More Bullish Confirmation Is Building

The 30-day moving average (Bull-Bear 30DMA) is starting to rise. Historically, when this line crosses above the 365-day average, it leads to strong parabolic growth in Bitcoin price. While the crossover hasn’t occurred yet, the upward slope is a good sign.

Further strengthening the outlook, realized price metrics by UTXO age bands reveal something rare—100% of Bitcoin holders are now in profit. This full profitability happened when BTC broke above $98,138, pulling even the last holdout group (those holding for 3–6 months) into the green.

As the market approached the current local low of $74k, more than 5M BTC were held in an underwater position. However, as the market recovery has taken place, this number has fallen to around 1.9M BTC, indicating that over 3M BTC have returned to a state of profit. pic.twitter.com/J7cmxlRyMH

— glassnode (@glassnode) May 8, 2025

According to Glassnode, over 3 million BTC have moved from loss to profit. This drop in underwater coins—from 5 million to 1.9 million—shows rising confidence among both short- and long-term holders.

Technical Analysis: $108K to $110K in Sight?

On the technical side, Bitcoin is now trading above the upper Bollinger Band, sitting near $102,747. This often signals short-term overbought conditions, but also reflects strong bullish momentum.

The lower band at $87,147 will serve as key support in case of a pullback. Meanwhile, the MACD remains firmly bullish, with the MACD line widening above the signal line.

If BTC can hold above $102,750, the next targets are $108,000 to $110,000, followed by the all-time high zone near $120,000. However, if Bitcoin fails to maintain above $100K or breaks below $94,947, it could retrace toward the $87,000–$90,000 support area.

Final Thoughts

The latest Bitcoin surge is backed by strong on-chain metrics and bullish technical indicators. With growing institutional and retail confidence, BTC might be gearing up for a new all-time high in the coming weeks.