Bitcoin continues to capture the attention of financial analysts after hitting a new record of $122,000 in mid-July. Despite this, market indicators show no signs of overheating, suggesting further growth in the future.
Bitcoin Market Not Overheated Yet
Analysts assert that Bitcoin (BTC) has not yet reached its peak, despite new records. According to CryptoQuant analyst Axel Adler Jr., the absence of a peak signal indicates that the market is not overheated, which is often observed before corrections. 'The peak signal only appears at major market tops, and its absence this time suggests we’re not at a peak yet,' he noted.
Key Bitcoin Price Levels
Analyzing Bitcoin’s cost basis for short-term holders, experts outlined key support and resistance levels. Resistance starts at $124,000 and reaches $136,000, which often coincides with profit-taking. On the support side, important levels are at $113,000 and $101,000, where $101,000 is critical for maintaining the medium-term bullish trend.
Growth Prospects Ahead
Despite price increases, the MVRV system indicates further potential for Bitcoin value growth. Analysts believe that the current state allows Bitcoin to continue rising and reach new highs in 2025. It has been noted that even after record levels, many indicators do not show signs of overheating.
Bitcoin continues to show strong results, remaining in a closed range without signs of overheating. Analysts predict that potential growth may continue in the coming months, with key price levels determining further market movements.
