Thomas Daniels
Bitcoin’s record-setting rally has sparked fresh enthusiasm among investors, yet market analysts caution that the current bull run may be nearing its conclusion. Despite surpassing historical price milestones and attracting heightened institutional interest, a growing number of traders believe the rally is running on borrowed time.
This week, Bitcoin reached an all-time high near $110,589, extending its gains by more than a third in the second quarter. However, seasoned market observers remain skeptical. They point to classic technical signals suggesting that a correction may soon follow.
Stockmoney Lizards, a prominent trading analytics firm, revisited its late-2023 bull market roadmap. Their updated projections continue to indicate a cycle peak by the fourth quarter of 2025, followed by a potential bear market that could see Bitcoin prices retrace to the $69,000 level—corresponding to the highs of 2021.
This outlook is supported by technical indicators such as exponential moving averages (EMAs). Trader Crypto Chase noted that Bitcoin’s current price has diverged significantly from its EMAs—a historically bearish signal. Each prior instance of such a deviation has been followed by a notable pullback, even if temporary.
Adding to the caution, the Relative Strength Index (RSI) is showing bearish divergences. While Bitcoin’s price continues to climb, the RSI has not mirrored these highs, signaling weakening market momentum. This phenomenon, often interpreted as a sign of exhaustion, has been observed by multiple analysts, including prominent trader Roman, who described the current market as “looking exhausted.”
Meanwhile, broader macroeconomic conditions are also contributing to investor uncertainty. Recent developments in trade policy and global economic headwinds have intensified volatility across financial markets, including cryptocurrencies.
While some investors remain bullish in the long term, the combination of technical pressure and external economic factors suggests that Bitcoin’s current uptrend could soon face significant resistance. Investors are advised to monitor key support levels—estimated between $90,000 and $105,000—and remain vigilant as the market enters a potentially corrective phase.
