The Bitcoin market is showing a remarkable resurgence of bullish momentum, as bulls appear to regain control, driving the price upward after a period of consolidation. Recently, Bitcoin's price has been hovering near $119,000, tightening within a bullish consolidation pattern. This move is supported by growing market optimism and key technical indicators signaling further upside potential.
One of the most significant technical indicators fueling optimism is the "golden cross" on Bitcoin's daily chart. This pattern, where the 50-day simple moving average (SMA) crosses above the 200-day SMA, has historically preceded significant bull markets. After surging past $100,000 earlier in 2025 and correcting to the $75,000 range, Bitcoin is now consolidating just below the $120,000 resistance level. Analysts are closely watching this level, as a decisive break above the $120,000–$123,000 resistance range could trigger the next major rally.
The current market optimism is also reflected in the Crypto Fear and Greed Index, which recently climbed back to 67 points, returning to the “Greed” zone. This signals a renewed risk appetite among investors. The shift in sentiment was bolstered by news that Galaxy Digital concluded its sell-off, which led to a market rebound.
While some analysts warn the current bull run may only have a few months left if it follows historical patterns, others believe increased institutional adoption could extend the cycle. Analyst Rekt Capital suggests the market could peak in October, roughly 550 days after the April 2024 Bitcoin halving. However, Standard Chartered's head of digital assets research, Geoff Kendrick, believes Bitcoin has moved beyond its previous dynamics thanks to increased investor flows.
Investors are now watching key support and resistance levels. Immediate support lies near $118,250, while major resistance remains at $120,250. A successful breakout could pave the way for new all-time highs, confirming that the bulls are indeed in control.