Bitcoin Permanent Holder Demand Accelerates – Gearing Up For A Breakout?

Bitcoin has shown remarkable resilience despite growing geopolitical turmoil. After days of uncertainty fueled by escalating conflict between Israel and Iran, BTC has held the crucial $104,000 support level and is now pushing into higher price territory. The strength in price action signals that bulls remain firmly in control, even as global markets remain on edge.

Fresh on-chain data from CryptoQuant highlights a key trend supporting this strength: Permanent Holder demand is accelerating. This cohort, often made up of long-term investors and institutions with high conviction, plays a vital role in Bitcoin’s supply dynamics. Permanent Holders are wallets that accumulate BTC without showing a history of regular selling. They typically represent the most committed participants in the ecosystem, often continuing to buy and hold regardless of short-term volatility.

With this trend gaining momentum alongside stable price support, Bitcoin appears well-positioned for another leg up—if broader macro conditions don’t derail the bullish setup. All eyes are now on the $109K and $112K resistance levels.