Is This The ‘Last Dance?’ Bitcoin (BTC) Smashes Another ATH, Euphoria Looms
2025-07-14 13:30:45
Main Idea
Bitcoin reached a new all-time high of $123,000, with a 13% weekly gain, but on-chain indicators suggest the market is not yet in a euphoria phase as long-term holders remain dominant and panic selling is absent.
Key Points
1. Bitcoin hit a new all-time high of $123,000, marking a 13% gain in the past week.
2. CryptoQuant's 'Greed Indicator' and rHODL ratio (32%) indicate long-term holders are still dominant, suggesting no retail-driven euphoria yet.
3. Historically, market euphoria phases align with significant retail inflows, which are currently absent.
4. Spent Output Profit Ratio (SOPR) data shows no panic selling, with profit-taking activity remaining stable, supporting the ongoing bullish trend.
Description
As July’s third week opens, Bitcoin has set a fresh all-time high, touching $123,000. The world’s largest cryptocurrency has recorded an impressive gain of approximately 13% in the past week alone. This market activity, along with a significant inflow of capital into spot Bitcoin ETFs, has sparked discussions about the possible onset of a market euphoria phase. However, on-chain indicators suggest a more layered picture. “Prawns” Stay Out as Bitcoin Hits $123K Despite the recent price surge, Cry...
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