Bitcoin has reached new highs, but analysts argue it has not yet reached its peak . After surging to a record high of $123,218 earlier this week, Bitcoin is once again capturing global attention . Despite a brief pullback, market sentiment remains strongly bullish as expert forecasts highlight five powerful catalysts that could send BTC doubling in value before the year ends .
On July 14, 2025, Bitcoin hit an all-time high of $122,000, but onchain data shows no signs of overheating, suggesting more growth potential in 2025 . BTC price resistance at $124,000-$136,000 remains the main barrier for now .
Crypto analysts say that the BTC market is not overheated despite new all-time highs of around $123,000 earlier this week . Data from Cointelegraph Markets Pro and TradingView shows that Bitcoin price action has established a new range in lower timeframes, and market observers have key support levels in their sights .
For CryptoQuant analyst Axel Adler Jr., Bitcoin has not yet reached its peak range . The analyst shared a chart showing the absence of a peak signal, which typically appears at major market tops . The Bitcoin peak signal is a metric that indicates that the market is overheated and a corrective phase is becoming likely .
Similarly, Bitcoin realized Cap-UTXO Age Bands, a metric that shows the distribution of realized cap of a specified age cohort, also suggests that BTC “hasn't reached an overheated state,” according to CryptoQuant Crypto Dan . In March 2024 and December 2024, when Bitcoin was at peak highs, the percentage of the realized cap held by the 1-day to 1-week UTXO age group was as high as 14% . This percentage is currently around 5% despite Bitcoin's recent all-time highs .
From a technical standpoint, Bitcoin remains in a long-term uptrend, with strong support levels forming near $111,980—its prior all-time high from May . The Relative Strength Index (RSI), currently at 65, is cooling off from overbought territory, suggesting room for further upside .
One analyst predicts that Bitcoin could hit $200,000–$300,000 by Christmas 2025 if historical patterns play out . Currently, Bitcoin is trading at $118,731, up 0.44% in the last 24 hours .