Bitcoin reached a brand new all-time excessive of $122,838 on July 14, however has since slipped right into a section of consolidation across the $118,000 stage. The current pause in upward momentum hasn’t dampened market sentiment, which stays firmly bullish. In response to Coinmarketcap’s Worry & Greed Index, Bitcoin remains to be presently sitting at a greed stage of 68. This sentiment, mixed with technical evaluation of the Logarithmic Development Curve (LGC), reveals that Bitcoin remains 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 happened simply after it peaked at $122,838. Nonetheless, on-chain information reveals an fascinating overview of Bitcoin buyers.
Notably, crypto analyst Axel Adler Jr. shared information from CryptoQuant exhibiting that the 30-day transferring 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 nicely under 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 section. In essence, this metric reveals that if Bitcoin continues to consolidate and push greater with out the sentiment coming into into excessive greed ranges between 75% and 80%, it’ll proceed on a sustainable push to new heights.
Picture From X: @AxelAdlerJr
Bitcoin Re-Enters Resistance Zone On Development 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 development noticed Bitcoin’s worth right to $116,000 very briefly earlier than stabilizing round $118,000. Apparently, technical evaluation of the weekly candlestick timeframe reveals that Bitcoin re-entered the primary band of the Logarithmic Development Curve (LGC) resistance zone because it reached this worth peak.
This band, which is recognized as the sunshine pink area within the chart under, has at all times 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 high within the earlier bull cycle.
Picture From TradingView: TradingShot
Principally, this indicator implies that Bitcoin is now at the beginning of a closing build-up section. In response to crypto analyst TradingShot, who posted the evaluation on the TradingView platform, the last word high for this cycle goes to be between October and November 2025. Relying on the timing and energy of things like anticipated US charge cuts in September, Bitcoin’s peak might land wherever 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