Bitcoin Re-Enters Profit Zone as Greed Rises, But Rally To $200,000 Still Possible
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. In accordance with Coinmarketcap’s Worry & Greed Index, Bitcoin remains to be at present sitting at a greed degree 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 befell simply after it peaked at $122,838. Nevertheless, on-chain knowledge reveals an attention-grabbing overview of Bitcoin traders.
Significantly, crypto analyst Axel Adler Jr. shared data 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 at present in grasping territory, this degree 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 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 coming into into excessive greed ranges between 75% and 80%, it can proceed on a sustainable push to new heights.
Bitcoin Re-Enters Resistance Zone On Development 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 right to $116,000 very briefly earlier than stabilizing round $118,000. Curiously, technical analysis 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 all the time 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 prime within the earlier bull cycle.
Image From TradingView: TradingShot
Principally, this indicator implies that Bitcoin is now firstly of a ultimate build-up section. In accordance with crypto analyst TradingShot, who posted the evaluation on the TradingView platform, the final word prime 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 may 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
