Key takeaways:
Bitcoin (BTC) stays pinned under $120,000 after reaching a contemporary all‑time excessive close to $123,000 final week. As BTC worth consolidates, quite a few market analysts are satisfied that the cycle just isn’t over.
Listed here are the the explanation why analysts assume that the Bitcoin bull market has not peaked but.
Bitcoin fundamentals stay robust
Analytics agency Bitcoin Vector stated that though Bitcoin’s momentum has slowed, a number of onchain metrics recommend that Bitcoin’s cycle just isn’t over.
“Momentum has cooled, however construction and fundamentals stay stable,” the agency stated in a Tuesday publish on X, including:
“This isn’t a prime. It’s a coiled setup with help beneath it.”
Associated: New Bitcoin evaluation says ‘most explosive part’ to $140K is shut
The Bitcoin Basic Index (BFI) stays robust, 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 value that should catch up.”
Within the quick time period, patrons may merely be ready for affirmation of the breakout as Bitcoin performs the “structural anchor” for the entire crypto market, stated personal wealth supervisor Swissblock.
Bitcoin is holding construction.
→ Danger is contained. Fundamentals are supportive.
→ However momentum is delicate. Bulls are cautious.
→ Rotation is energetic. BTC stays the bottom layer.
→ Alts carry the upside torque.This isn’t a prime — 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 enlargement“
Bitcoin’s short-term holder (STH) value foundation, Swissblock stated 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 customary deviations above the STH realized worth — it may hit contemporary all-time highs at $138,000.
“Revenue-taking is current, however the STH danger zone at $138K hasn’t been reached,” Swissblock stated, including:
“This implies there’s nonetheless room for enlargement earlier than we see any panic promoting or euphoria.”
30 Bitcoin worth prime 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 consult with the number of 30 potential promoting triggers and intention to catch long-term BTC worth tops. Presently, not one of the indicators is flash ing a prime sign.
“0 out of 30 prime indicators have triggered on CoinGlass’s Bitcoin Bull Market Peak Dashboard,” widespread analyst CryptosRus wrote in an X publish on Monday.
CryptosRus, particularly, highlighted 4 long-term indicators — Pi Cycle High, Market Worth to Realized Worth (MVRV), relative energy index (RSI) and Reserve Danger— to display that the Bitcoin bull market has loads of room to go increased.
“Traditionally, the extra containers this record checks, the nearer we get to a blow-off prime. For now? Inexperienced lights.”
In response to CoinGlass, Bitcoin is at present categorized as a “maintain 100%” asset based mostly on cues taken from the highest 30 indicators.
This text doesn’t include funding recommendation or suggestions. Each funding and buying and selling transfer entails danger, and readers ought to conduct their very own analysis when making a decim redswcfhvsion.
