Main takeout:
Bitcoin prices maintain optimistic propulsions, but appraisal indicators suggest that the market can be overheated.
Data emphasizes the benefits of Bitcoin Traders and leads the market at an angle for a long time.
Analysts, especially if gold is weak or seasonal trends occur, warns of potential short -term corrections.
The optimism has returned to the encryption market, and many traders believe that Bitcoin (BTC) prices are on the way to the new all -time high. In just a month, Bitcoin surged 39%and crossed $ 105,000. According to GlassNode Analysts, “There are signs of new market strengths and the market is trading within the dominant system of profits.”
Nevertheless, not everyone is convinced that the meeting will not continue to be chosen. Some investors are already gaining profits and push the upper limit of Bitcoin to a record of $ 88.9 billion. More profits are expected at $ 106,000.
Historically, the emotions of a happy market have often led to integration or sharp modifications. In recent months, the risk may be increasing due to the gold that the price of bitcoin is closely reflected.
Most investors gained profits
According to GlassNode, Bitcoin Rally recently returned to more than 3 million BTCs. This change suggests a market that will be willing to absorb strong demand measurement interest and sales pressure, exceeding $ 1 billion a day, ruling capital inflow. Even if most of the short -term holders who have been underwater after the peak in December 2024, I saw that the portfolio turned green.
Financial and psychological slogans are already interpreted as expenditures. The sequential gains of short -term holders and profits increased sharply to +20%.
Institutional investor trust is also rebounding. According to CoingLass, over the last three weeks, Bitcoin ETFs have exceeded $ 5.7 billion. The total assets of executives held within the US branch have now climbed to 1260,000 BTC.
Is the encryption merchant so happy now?
It is easy to imagine the moonlight because it has too many momentum. But the same momentum can be the cause of attention. BTC’s open interest rises to $ 68 billion, which is close to a record high, indicating a market with a lot of markets. Under such conditions, even a small catalyst can cause a large movement to UP or down.
André Dragosch, the researcher at Bitwise Asset Management, warned that Bitcoin would be a bit ahead of it. He posted the Bitwise’s in -house Cryptoasset sentiment index, which has reached the highest level since November 2024. This includes 15 sub -information across emotions, flow, on -chain data and derivatives (for example, permanent funding speed and football volume ratio), and now shows overheated markets.
Dragosch is in the opinion of COINTELEGRAPH
“The latest readers suggest that market sentiment is overheated and positioning seems to be unilateral in terms of longer positioning. The risk of temporary fullback of bitcoin prices tends to increase, and the current rally can be rested.”
However, Dragosch remains a “structurally constructive” state by the end of 2025, and continues to deplete the Bitcoin exchange balance by citing the continuous BTC accumulation of companies and ETPs.
relevant: The Arizona Governor kills two encryption bills and cracks down to Bitcoin ATM.
bloodOTENTIAL CRYPTO MARKET HEADWINDS
Some risks can challenge Bitcoin in the short term.
In the case of Bitwise’s chief investment officer, Matt Hougan, the regulatory uncertainty, which was renewed after the Senate stagnated last week, is the biggest concern.
A wider change in market behavior can also progress. Since March 2025, Bitcoin has been more correlated with gold than stocks. This change followed the dramatic change of US policy, which seemed to controll the capital with political neutral assets. At the same time, S & P 500 and NASDAQ-100 only prevented the initial loss.
This difference continues in a short time frame. Since May 12, major US indexes have increased from 3% to 3% of the positive development of US trade relations, but Bitcoin has almost been sprouted. Gold, meanwhile, began to print the low high score, the potential initial signal of the fall, as mentioned by the analyst Michael Van de Poppe. When the gold enters the correction stage, Bitcoin can follow the lawsuit.
Seasonality can also play a role. There is historical support in the proverb “sold in May and to go far”. As mentioned by the analyst DAAN CRYPTO Trades, May was generally a green moon of Bitcoin (average 8%), and June and September are often the worst. When he puts it in
“Seasonality is not just based on your decision, but it can work well. Many investors are seeing the same.”
If you have more or more running spaces in this rally, you can participate in the test soon.
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.