Bitcoin reached a new all-time high The market has been consolidating around $118,000 since July 14. Market sentiment remains bullish despite the recent slowdown in momentum. According to Coinmarketcap’s Fear & Greed Index, Bitcoin is still currently sitting at a greed level of 68. This feeling, coupled with technical analysis using the Logarithmic Growth Curve(LGC), indicates that Bitcoin still has a strong potential for upward movement.
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Markets Are Still Not Overheated But Greed Has Returnen
Bitcoin price has spent most of the last 48-hours above $118,000 after a wave of profit-taking The peak was at $12,838. On-chain data provides an intriguing overview of Bitcoin’s investors.
Axel Adler Jr., a crypto-analyst in particular. shared data CryptoQuant shows that the 30-day average Fear and Greed Index is now at 66.2%. Despite the fact that sentiment is in the greedy zone, the level of this index is below 75% and 80% which corresponded to new price highs between March 2024 & December 2025.
This current green reading (66%) suggests that bullishness can still grow further before the markets enter a phase of euphoria. The metric shows, in essence, that Bitcoin can continue to climb higher if the market doesn’t reach extreme greed levels, between 75%-80%.
Bitcoin enters resistance zone on growth curve
Bitcoin has broken above $120,000 as mentioned previously. and its subsequent peak Profit-taking was followed by an upswing. Bitcoin corrected to $116,000 for a very brief time before stabilizing at $118,000. Interestingly, technical analysis The weekly candlestick shows that Bitcoin entered the resistance zone of the Logarithmic Growth Curve at this peak price.
In each previous Bitcoin bull market, this band (which is the pink light region on the chart) has served as a profit-taking zone. In a similar pattern to the January 2021 bull market, Bitcoin briefly touched this region in December 2024, and then again in January 2025, before rejecting it. first top in the previous bull cycle.
Image From TradingView: TradingShot
Essentially, this indicates that Bitcoin is at the beginning of its final buildup phase. TradingShot posted his analysis to TradingView, a crypto-analyst platform. The ultimate peak for this cycle will be between November and October 2025. Bitcoin’s maximum could range between $140,000-$200,000 depending on timing and the strength of certain factors, such as anticipated US interest rate cuts for September.
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Bitcoin currently trades at $118.152.
Chart from TradingView, Featured Image from Pexels
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Source: www.newsbtc.com
