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 degree. The current pause in upward momentum hasn’t dampened market sentiment, which stays firmly bullish. Based on Coinmarketcap’s Concern & Greed Index, Bitcoin remains to be at the moment sitting at a greed degree of 68. This sentiment, mixed with technical evaluation of the Logarithmic Progress 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 nearly all of the previous 48 hours holding above $118,000 after a wave of profit-taking came about simply after it peaked at $122,838. Nonetheless, on-chain knowledge reveals an fascinating overview of Bitcoin traders.
Significantly, crypto analyst Axel Adler Jr. shared knowledge from CryptoQuant exhibiting that the 30-day transferring common of the Concern and Greed Index has climbed again into the optimism zone, now sitting at 66.2%. Though sentiment surrounding the main cryptocurrency is at the moment in grasping territory, this degree is effectively 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 degree, 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 getting into into excessive greed ranges between 75% and 80%, it is going to proceed on a sustainable push to new heights.
Picture From X: @AxelAdlerJr
Bitcoin Re-Enters Resistance Zone On Progress Curve
As talked about earlier, Bitcoin’s break above the $120,000 worth degree and its subsequent peak have been adopted by a wave of profit-taking. The development noticed Bitcoin’s worth appropriate to $116,000 very briefly earlier than stabilizing round $118,000. Curiously, technical evaluation of the weekly candlestick timeframe reveals 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 at all times served because the profit-taking space in every of Bitcoin’s previous bull markets. Curiously, Bitcoin briefly tapped this space in December 2024 and January 2025 earlier than being rejected, in a sample just 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 firstly of a closing build-up section. Based on 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 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
