Bitcoin price temperature rises rapidly – is there still space before this cycle peaking?
Bitcoin showed significant strength as it continued to move upward momentum, rising higher yesterday, reaching a record of $112,000. The price is currently stable at over $110,000, which is a key level that can now serve as a support for the Bulls designed to expand the rally. This breakthrough confirms a strong bullish structure and market sentiment is becoming more and more positive. Yet despite the enthusiasm, caution continues to spread as analysts highlight the potential of a recent pullback.
According to new data from CryptoQuant, the Bitcoin price temperature (BPT) measure (a gauges used to measure market overheating) rose to 2.67 points. In the context, the last two periodic peaks recorded BPT values of 2.75 and 3.57, with the average periodic peak approaching 3.14. While Bitcoin still has room before reaching this historical average, the rise in BPT indicates increased pressure and the market may be close to overheating conditions.
With the momentum still strong, but warning signs appearing, everyone is now focusing on whether Bitcoin can maintain its current trajectory or whether selling pressure will trigger the next cooling phase of a strong bull market. Will BTC resist history and push it with fresh legs?
Bitcoin has increased as global risks increase
As doubts about the rise and recession arise in the U.S. Treasury Department has intensified, global markets are browsing the fragile macroeconomic environment. Interestingly, Bitcoin seems to be thriving in this case. After violating its all-time high, BTC still maintains high scores above $110,000, showing resilience even when traditional assets are shaky.
This power has inspired optimism among the bulls, and many expect to continue the rally. However, analysts warned that the $115,000 level must be cleared to confirm the beginning of a new bullish phase. Failure to maintain current levels could lead to sharp corrections, especially with broader economic uncertainty.
Top analyst Axel Adler recently highlighted the important signal of market heat: Bitcoin price temperature (BPT). According to Adler, BPT has now reached 2.67 points. In the context, the BPT for the last two period peaks is 2.75 and 3.57, with an average peak of 3.14. The remaining gap was only 0.47 BPT before matching the historical average.
While this does not guarantee a direct top, it indicates that BTC may be approaching overheating conditions. With that in mind, traders are paying close attention. Will the power of Bitcoin persist, or will it be calm before the necessary cooling?
BTC Daily Chart Analysis: Bulls Stay Control, But Key Levels Future
After hitting a new all-time high, Bitcoin’s steady volume is close to $111,000, indicating a bullish momentum. The daily chart shows that BTC successfully converts the $103,600 resistance zone into support, an important technical milestone. The price is well above 34 EMA at $100,246, and it has now risen, indicating the strength of the short-term trend. Meanwhile, the 50, 100 and 200 SMA continues to be positively tilted, adding confidence to the medium-term and long-term trends.
The slight decline in volume compared to the breakout day suggests that there may be a period of consolidation. Still, BTC remains strong bullish structure, with a persistent approaching $112,000 likely triggering the next impulse leg to $115,000 or higher.
But if the Bulls can’t get past the area, we might see a healthy back-drawing back to a $103,600, or even $100,000 psychological level, both of which should be strong support now. RSI and momentum indicators on lower time frames consistent with the current merger show signs of cooling.
Featured images from DALL-E, charts from TradingView
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