Bitcoin's Six-Month $100K Streak: On-Chain Data Hints at Stabilization After Volatility

Despite significant volatility and repeated intraday dips below the $100,000 mark this week, Bitcoin (BTC) has successfully maintained a daily closing price above this key psychological level for six consecutive months. This resilience suggests strong underlying spot demand.

Analysis of on-chain data indicates that the market may be nearing a stabilization or bottoming phase:

• Long-Term Holder (LTH) Behavior: Unusually, LTHs are distributing their coins during this period of sideways price action, rather than during a major rally. This suggests they might be repositioning for a potential transition in the four-year market cycle.
• Fading Selling Pressure: Key indicators from CryptoQuant show that aggressive sell pressure has subsided in both the futures and spot markets. The aSOPR metric near 1.0 suggests coins are being sold near cost, indicating a lack of panic selling.
• Building Liquidity: The Stablecoin Supply Ratio has returned to levels typically seen at previous cycle bottoms, meaning stablecoin buying power is quietly accumulating.

While analysts are divided on whether this six-month consolidation is a peak or a foundation for the next leg up, Bitcoin's consistent ability to hold the $100K base suggests that the market may be quietly setting the stage for its next major move, pending positive macro catalysts like increased ETF inflows or improved inflation data.

November 2025, Cryptoniteuae