Essential insights:<\/strong><\/p>\n Bitcoin (BTC<\/a>) is still positioned below $120,000 after achieving a new all-time high close to $123,000 last week. As BTC price stabilizes, many market experts are confident that the cycle is not yet concluded<\/a>.<\/p>\n Here are the factors that lead analysts to believe that the Bitcoin bull market has not reached its peak<\/a>.<\/p>\n Analytics company Bitcoin Vector stated<\/a> that while Bitcoin\u2019s momentum has diminished, several on-chain indicators imply that Bitcoin\u2019s cycle is not finished.<\/p>\n \u201cMomentum has decreased, but structure and fundamentals are still firm,\u201d the firm commented<\/a> in a Tuesday update on X, stating:<\/p>\n \u201cThis isn\u2019t a peak. It\u2019s a coiled setup with support beneath it.\u201d<\/p><\/blockquote>\n Related: <\/strong><\/em>New Bitcoin analysis notes \u2018most explosive phase\u2019 approaching $140K<\/strong><\/em><\/a><\/p>\n The Bitcoin Fundamental Index (BFI) remains robust, indicating increasing network growth and liquidity, as illustrated in the chart below.<\/p>\n With BTC price under strain, \u201cfundamentals are on hold, not declining,\u201d Bitcoin Vector explained, adding:<\/p>\n \u201cIt\u2019s the price that requires alignment.\u201d<\/p><\/blockquote>\n In the near term, buyers might simply be awaiting confirmation of the breakout, as Bitcoin serves as the \u201cstructural anchor\u201d for the entire crypto market, noted<\/a> private wealth manager Swissblock.<\/p>\n Bitcoin is maintaining structure.<\/p>\n \u2192 Risk is contained. Fundamentals are supportive. This isn\u2019t a peak \u2014 it\u2019s a transition.<\/p>\n \u2014 Swissblock (@swissblock__) July 22, 2025<\/a><\/p><\/blockquote>\n Meanwhile, BTC price is \u201cmaintaining a bullish structure\u201d even as it has been consolidating within a narrow range between $116,500 and $120,000 since July 15. Bitcoin Vector added<\/a>:<\/p>\n \u201cNo breakdown. No breakout. Just waiting for ignition. Once momentum aligns, the breakout continues.\u201d<\/p><\/blockquote>\n Analyzing Bitcoin\u2019s short-term holder (STH) cost basis, Swissblock mentioned<\/a> that STHs are still engaged and not depleted.<\/p>\n STH cost basis refers to the average purchase price of traders who have held Bitcoin for less than 155 days.<\/p>\n The price reached the \u201cheated\u201d range of this metric on July 14, when it attained its current all-time high<\/a>, but did not enter the overheated area.<\/p>\n If it rises to test the upper boundary \u2014 aligning with two standard deviations above the STH realized price \u2014 it could achieve new all-time highs at $138,000<\/a>.<\/p>\n \u201cProfit-taking is visible, but the STH risk zone at $138K hasn\u2019t been reached,\u201d Swissblock noted, adding:<\/p>\n \u201cThis indicates there’s still capacity for growth before we observe any panic selling or excessive enthusiasm.\u201d<\/p><\/blockquote>\n Bitcoin may be consolidating beneath the all-time highs, but CoinGlass\u2019 bull market peak indicators also demonstrate no signs of overheating.<\/p>\n The bull peak indicators refer to a selection of 30 potential selling signals and aim to identify long-term BTC price peaks. Currently, none of the indicators are signaling a peak.<\/p>\n \u201c0 out of 30 peak signals have triggered on CoinGlass\u2019s Bitcoin Bull Market Peak Dashboard,\u201d popular analyst CryptosRus posted<\/a> in an X update on Monday.<\/p>\n CryptosRus specifically emphasized four long-term indicators \u2014 Pi Cycle Top, Market Value to Realized Value (MVRV), relative strength index (RSI<\/a>) and Reserve Risk\u2014 to illustrate that the Bitcoin bull market has ample potential to advance further.<\/p>\n \u201cHistorically, the more indicators this list validates, the closer we approach a blow-off peak. For now? Green lights.\u201d<\/p>\n According to CoinGlass, Bitcoin is presently classified as a \u201chold 100%\u201d asset based on signals from the top 30 indicators.<\/p>\n This article does not contain investment advice or recommendations. Every investment and trading decision carries risks, and readers are encouraged to conduct their own research before making any investment decisions.<\/p>\n <\/div>\nBitcoin fundamentals remain robust<\/h2>\n
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\u2192 But momentum is gentle. Bulls are cautious.
\u2192 Rotation is dynamic. BTC remains the foundational layer.
\u2192 Alts carry the upward potential.<\/p>\nOn-chain metrics suggest \u201cspace for growth\u201c<\/h2>\n
30 Bitcoin price peak indicators recommend \u201chold 100%\u201d<\/h2>\n