Is the bull run still on, or is Bitcoin just getting started?
Bitcoin keeps climbing. In recent weeks, it’s broken one all-time high after another - $120K, then $123K - and there’s no real sign of slowing down. The big question now is: are we near the top, or is this just the beginning?Let’s take a closer look at what’s going on, why the market is pushing up, and whether there’s still fuel for another leg up.
Who’s driving the market
Right now, it’s all about the institutions. Spot Bitcoin ETFs keep pulling in billions, over $1.3B in the first week of July alone. These are real BTC purchases, not derivatives.
Big public companies are buying again too - MicroStrategy keeps adding, and others clearly don’t want to miss the boat. Retail is waking up as well. The result? Everyone’s buying - whales, funds, and regular users.
What the charts are saying
Bitcoin broke a key resistance level and stayed above $120K. Many traders expected a pullback, but instead the market squeezed shorts hard - nearly $1B in liquidations.
What’s more, volume is rising along with price, a good sign of strength. And the RSI isn’t overheated yet. The total crypto market cap is now pushing toward $4T, a major psychological milestone. Breaking that could open the floodgates.
When could a correction happen
No bull run lasts forever. Some analysts point out that we’re 500-600 days post-halving, the usual time window when previous cycles peaked.
Corrections can happen fast, especially if retail piles in blindly with leverage. BTC at $150K seems doable, but any drop from there could be painful.
Regulatory pressure is also in the mix. The US is debating new crypto laws, Europe is tightening stablecoin rules, and Asia is cracking down on unlicensed platforms. Any headline could trigger short-term selling.
Forecasts and expectations
Outlooks remain bullish. Many analysts are targeting $180K-200K BTC before the cycle ends. Some expect total crypto market cap to reach $5T, with BTC holding around 50% dominance.
Ethereum whales are quietly stacking too, the kind of accumulation we last saw in 2020. If Bitcoin cools off a bit, altseason could be right around the corner.
Yes, the market is still in bull mode. But that doesn’t mean it’s time to ape in without a plan.
If you’re already in - great, sit tight. If not - think about smart entries, not FOMO.
We’re probably somewhere mid-cycle. The trend is still strong, and demand, both retail and institutional, is high. Unless something major changes, there’s likely more room to grow. But it won’t be a smooth ride.
Just be ready - the next few months could get interesting.