Bitcoin reached a new all-time high of $122,838 on July 14, however has since slipped right into a part of consolidation across the $118,000 stage. The latest pause in upward momentum hasn’t dampened market sentiment, which stays firmly bullish. Based on Coinmarketcap’s Worry & Greed Index, Bitcoin continues to be presently sitting at a greed stage of 68. This sentiment, mixed with technical evaluation of the Logarithmic Progress Curve (LGC), exhibits that Bitcoin continues to be on observe for highly effective upward strikes.
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Greed Returns To The Market, However Not But Overheated
Bitcoin’s worth motion has spent the vast majority of the previous 48 hours holding above $118,000 after a wave of profit-taking passed off simply after it peaked at $122,838. Nevertheless, on-chain information exhibits an attention-grabbing overview of Bitcoin traders.
Notably, crypto analyst Axel Adler Jr. shared data from CryptoQuant exhibiting that the 30-day shifting common of the Worry and Greed Index has climbed again into the optimism zone, now sitting at 66.2%. Though sentiment surrounding the main cryptocurrency is presently in grasping territory, this stage is properly beneath the 75% to 80% vary, which coincided with new worth highs in March 2024 and December 2025
The present 66% studying, whereas within the inexperienced stage, suggests there’s nonetheless room for bullish sentiment to develop earlier than the market enters a euphoric blow-off part. In essence, this metric exhibits that if Bitcoin continues to consolidate and push larger with out the sentiment getting into into excessive greed ranges between 75% and 80%, it should proceed on a sustainable push to new heights.
Bitcoin Re-Enters Resistance Zone On Progress Curve
As talked about earlier, Bitcoin’s break above the $120,000 worth stage and its subsequent peak have been adopted by a wave of profit-taking. The pattern noticed Bitcoin’s worth right to $116,000 very briefly earlier than stabilizing round $118,000. Apparently, technical analysis of the weekly candlestick timeframe exhibits that Bitcoin re-entered the primary band of the Logarithmic Progress Curve (LGC) resistance zone because it reached this worth peak.
This band, which is recognized as the sunshine pink area within the chart beneath, has all the time served because the profit-taking space in every of Bitcoin’s previous bull markets. Apparently, Bitcoin briefly tapped this space in December 2024 and January 2025 earlier than being rejected, in a sample much like that of January 2021’s first top in the previous bull cycle.
Image From TradingView: TradingShot
Principally, this indicator implies that Bitcoin is now firstly of a remaining build-up part. Based on crypto analyst TradingShot, who posted the evaluation on the TradingView platform, the last word prime for this cycle goes to be between October and November 2025. Relying on the timing and power of things like anticipated US fee cuts in September, Bitcoin’s peak might land anyplace between $140,000 and $200,000.
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On the time of writing, Bitcoin is buying and selling at $118,152.
Featured picture from Pexels, chart from TradingView
