Bitcoin Eyes New Highs After $118K Pullback
Bitcoin (BTCUSD)
Fundamental Analysis
Bitcoin hovered around $118,800 after hitting a new all-time high, but bullish momentum has slowed due to profit-taking pressure from short-term investors—with over $3.5 billion in profits withdrawn within just 24 hours. Nevertheless, on-chain indicators from Glassnodeand CryptoQuant suggest the market is not yet overheated, and the uptrend could continue in the second half of the year.
Analysts believe Bitcoin still has significant growth potential, with optimistic forecasts projecting BTC could reach $150,000—or even $400,000—by the end of 2025, driven by unprecedented adoption and strong institutional inflows.
Technical Analysis
Short-term trend: Bullish, but showing signs of a pullback after reaching a peak around the $123,236 level.
Medium-term trend: Sustained uptrend, with key support zones holding firm and a rising price structure (higher highs, higher lows).
The RSI has dropped out of the overbought zone (>70) and is currently in a correction phase, with no signs of being oversold yet, the market is “resting,” not reversing.
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