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The Bitcoin price is trading above $108,000. BTC has been consolidating just below the all-time high of $111,970 for quite some time. This is how close we actually are to a new ATH now.
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Bitcoin Price above $108,000: how Close is a New ATH
The Bitcoin price is currently trading above $108,000. At the time of writing, it reached a market value of exactly $108,464. BTC is thus showing a consistently high price level.
- Bitcoin
(BTC) - Price $121,013.00
- Market Cap
$2.41 T
Just last Thursday, Bitcoin came noticeably close to its current all-time high. The cryptocurrency overcame the $110,000 threshold and reached a value of $110,347.
According to CoinMarketCap records, Bitcoin’s valid all-time high (ATH) is $111,970 – it was set on May 22. To set a new record, BTC would only have to grow by 3.23 percent from its current price. A new ATH is therefore already within reach.
BTC Consolidates, Long-Term Holders Realize Profits
Bitcoin is currently consolidating just below the all-time high. The consolidation began at the end of May and was only briefly interrupted by a price crash in June. In the meantime, the Bitcoin price has been moving sideways again not far from the ATH.
A consolidation just below $110,000 could quickly break out into a bull trend. According to CoinMarketCap, the crypto market is currently in a neutral phase.
Accordingly, the market could break out into a bullish, but also into a bearish phase. According to this, tendencies in a certain direction cannot be recognized. The Fear & Greed Index from Alternative.me already provides completely different information.
According to him, we are already in a bullish market trend. While CoinMarketCap puts the sentiment on the crypto market at 50 out of 100 points, Alternative.me rates the sentiment at 65 out of 100 points – i.e. significantly more euphoric.
The well-known price analyst Ali Martinez also takes a ambivalent view of the current market situation. Martinez recognizes enormous Bitcoin sales by long-term holders, who generated profits of 9.2 billion US dollars by Sunday. The last time there were similarly extensive sales was at a price high in December 2024.
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Martinez does not expect a Bitcoin crash anyway. At 106,500 US dollars, a clear support has formed, which prevents corrections.
How Soon Will a New Crypto Bull Market Start
Bitcoin sales by long-term holders could initially indicate a rather weak sentiment on the market. Nevertheless, Martinez expects the start of a new crypto bull market in the foreseeable future.
“If this bull cycle mirrors the last two, we may only be six months away from the next market high!”, the price analyst recently explained via X.
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Martinez did not specify an exact price target. Should the coming bull market resemble historical comparisons, BTC should multiply its current market value.
The prominent market analyst Arthur Hayes has been insisting on a Bitcoin price high of around 250,000 US dollars for months. This is what the largest cryptocurrency should reach in 2025. An altcoin season will follow and only end in 2026.
