Bitcoin continues its impressive bull run, trading around $118,800, up 2% in the last 24 hours and 9% over the past week. This comes amid a broader crypto rally, with Ethereum, XRP, and Dogecoin posting even stronger gains.
After surging past the $100,000 mark, Bitcoin reached a new all-time high. However, short-term holders began taking profits, with over $3.5 billion realized in a single day, according to on-chain analytics firm Glassnode. This has led to some sideways movement, with analysts warning of a possible retracement toward $110,000.
Despite the short-term consolidation, a report from CryptoQuant and top analyst Crypto Dan indicates that the Bitcoin market is not yet overheated. Unlike the peaks observed in March and December 2024, current data indicate that BTC still has room to grow without the risk of an imminent correction.
“Unlike in March and December 2024, on-chain data indicating market overheating shows that the market still hasn’t reached an overheated state,” the report noted.
If bulls can sustain the current momentum, Bitcoin may be on track to break its recent highs. With rising adoption levels and institutional interest growing, the current cycle could just be getting started.
A top analyst recently claimed, “I have a high degree of confidence that we’ll see $400K by the end of this year. This target might be too conservative.”
With fundamentals looking strong and fear of overheating absent, the second half of 2025 may see Bitcoin heading toward $150K and beyond.
