Bitcoin’s value has seen considerable growth recently, rebounding after a period of price decline. After dropping below $75,000 in mid-April, the cryptocurrency’s value has surged upwards by more than 37.5%, reaching a high of $105,490.
Even though the Bitcoin market appears to be stabilizing, prominent crypto analyst Ali Martinez predicts that the leading cryptocurrency could reach a peak of $120,000 before the current growth phase ends.
CVDD Data Suggests $120K Potential High, Dependent on $90K Support
The Cumulative Value Days Destroyed (CVDD) is an analytical tool that tracks the total value of coin-days “destroyed” when previously inactive Bitcoin is moved, effectively measuring the spending behavior of long-term holders.
Essentially, an increase in CVDD indicates substantial profit-taking from long-term holders, which can often signal that the market is overheating. Conversely, lower CVDD activity indicates accumulation periods. According to a chart presented by Martinez, CryptoQuant, a well-known analytics firm, interprets Bitcoin’s present CVDD at $34,154 through different levels, each signifying separate parts of the bull market.
First, there’s “Accessing Tops,” which is represented by the black line projecting the CVDD to an upper boundary that price has reached during major peaks, for instance, at $20,000 in 2017 and $69,000 in 2021. Currently, this “Accessing Tops” level sits around $120,000, indicating that it could be the next high point for the market in this bull run.
Another significant component of CryptoQuant’s CVDD interpretation is “Accumulating Phase 2,” a lower-tier support level that has consistently provided price support throughout 2025. This is currently positioned at $90,000, acting as the primary support level for buyers.
With Bitcoin’s present price at $103,242, Ali Martinez emphasizes that holding the $90,000 price support is essential for keeping Bitcoin’s bullish trend intact and potentially reaching the $120,000 target.
Bitcoin Price Snapshot
Currently, Bitcoin is valued at $103,573, showing a minor market increase of 0.09% over the last 24 hours. Simultaneously, the asset’s daily trading volume has decreased by 17.92%, indicating decreased market activity.
The immediate resistance level is at $105,000. However, Martinez suggests that substantial positive movements will only occur after a price closure above $107,000. Bullish sentiments remain robust, evidenced by another strong performance by the Bitcoin Spot ETFs, which saw a net inflow of $1.81 billion in the last week.
With a market capitalization of $2.04 trillion, Bitcoin continues to be the dominant digital asset, holding about 62.8% of the overall cryptocurrency market.