Key takeaways:
Bitcoin (BTC) stays pinned under $120,000 after reaching a recent all‑time excessive close to $123,000 final week. As BTC worth consolidates, quite a few market analysts are satisfied that the cycle isn’t over.
Listed here are the the explanation why analysts suppose that the Bitcoin bull market has not peaked but.
Bitcoin fundamentals stay sturdy
Analytics agency Bitcoin Vector mentioned that though Bitcoin’s momentum has slowed, a number of onchain metrics recommend that Bitcoin’s cycle isn’t over.
“Momentum has cooled, however construction and fundamentals stay strong,” the agency mentioned in a Tuesday submit on X, including:
“This isn’t a high. It’s a coiled setup with assist beneath it.”
Associated: New Bitcoin evaluation says ‘most explosive section’ to $140K is shut
The Bitcoin Basic Index (BFI) stays sturdy, reflecting rising community progress and liquidity, as proven within the chart under.
With BTC worth compressed, “fundamentals are pausing, not weakening,” defined Bitcoin Vector, including:
“It’s the worth that should catch up.”
Within the quick time period, consumers may merely be ready for affirmation of the breakout as Bitcoin performs the “structural anchor” for the entire crypto market, mentioned non-public wealth supervisor Swissblock.
Bitcoin is holding construction.
→ Threat is contained. Fundamentals are supportive.
→ However momentum is smooth. Bulls are cautious.
→ Rotation is energetic. BTC stays the bottom layer.
→ Alts carry the upside torque.This isn’t a high — it’s a transition.
— Swissblock (@swissblock__) July 22, 2025
In the meantime, BTC worth is “holding a bullish construction” regardless of consolidating in a good vary between $116,500 and $120,000 since July 15. Bitcoin Vector added:
“No breakdown. No breakout. Simply ready for ignition. As soon as momentum aligns, the breakout continues.”
On-chain metrics recommend “room for growth“
Taking a look at Bitcoin’s short-term holder (STH) value foundation, Swissblock mentioned that the STHs are nonetheless energetic and never exhausted.
STH value foundation refers back to the common buy worth of buyers who’ve held Bitcoin for lower than 155 days.
The value touched the “heated” band of this metric on July 14, when it hit its present all-time excessive, however didn’t enter the overheated zone.
If it rises to retest the higher band — matching the 2 normal deviations above the STH realized worth — it may hit recent all-time highs at $138,000.
“Revenue-taking is current, however the STH threat zone at $138K hasn’t been reached,” Swissblock mentioned, including:
“This means there’s nonetheless room for growth earlier than we see any panic promoting or euphoria.”
30 Bitcoin worth high indicators say “maintain 100%”
Bitcoin could also be consolidating under the all-time highs, however CoinGlass’ bull market peak indicators additionally present no indicators of overheating.
The bull peak indicators confer with the number of 30 potential promoting triggers and goal to catch long-term BTC worth tops. Presently, not one of the indicators is flash ing a high sign.
“0 out of 30 high indicators have triggered on CoinGlass’s Bitcoin Bull Market Peak Dashboard,” well-liked analyst CryptosRus wrote in an X submit on Monday.
CryptosRus, specifically, highlighted 4 long-term indicators — Pi Cycle High, Market Worth to Realized Worth (MVRV), relative power index (RSI) and Reserve Threat— to show that the Bitcoin bull market has loads of room to go increased.
“Traditionally, the extra packing containers this checklist checks, the nearer we get to a blow-off high. For now? Inexperienced lights.”
In response to CoinGlass, Bitcoin is presently categorized as a “maintain 100%” asset based mostly on cues taken from the highest 30 indicators.
This text doesn’t comprise funding recommendation or suggestions. Each funding and buying and selling transfer includes threat, and readers ought to conduct their very own analysis when making a decim redswcfhvsion.
