In the ever-volatile world of cryptocurrencies, a well-regarded analyst disputed claims that Bitcoin 
$77,337 has reached its peak in the current bull market. The expert emphasized the ongoing long-term upward trajectory, suggesting that the current price movements should be seen as short-term corrections or consolidations rather than signs of a permanent peak.
Analyst’s Market Insights
Speaking to his 49,800 subscribers on YouTube, analyst Cheds highlighted Bitcoin’s strong climb from $74,000 to nearly $110,000, showcasing significant momentum in 2025. Cheds noted that Bitcoin was trading above multiple moving averages on its weekly charts, pointing towards the continuation of the long-term bullish trend.
Cheds emphasized the low probability of Bitcoin making a sudden peak under current market conditions. He focused on moving averages, stating that the price remaining above the 8-period exponential moving average and the 200-day moving average is a significant indicator of current strength.
Cheds: “Identifying a peak here is challenging… Weekly charts show a strong upward trend with no peak indicators. We are currently in a consolidation phase.”
Historical Context and Current Levels
In 2021, Bitcoin attempted but failed twice to surpass the $69,000 mark, resulting in a prolonged downturn to $16,000. The analyst remarked that current conditions do not suggest a similar pullback is imminent.
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AAPLCheds also pinpointed key price levels for short-term monitoring. He identified $96,000 as a crucial support level, warning that if this level fails, $88,500 could become the next critical zone.
Cheds: “If $96,000 is tested and doesn’t hold, it’s essential not to drop below $88,500. Based on current data, there’s no definitive peak.”
Present Situation and Analysis
Bitcoin recently hovered around $100,000, currently trading at $101,957. Investors keep a keen eye on recent price activities. The analyst assesses that these movements are not sufficient to disrupt the general trend and maintains a bullish momentum exists.
The expert stressed that short-term retracements and consolidations do not hinder the overall upward momentum and stated that a new long-term peak has not yet been formed. The advice was to observe market trends without panic.
Despite inherent risks in cryptocurrency market fluctuations, the current price behavior might indicate lessons learned from past mistakes. While expert opinions are not decisive for investment decisions, close monitoring of price movements is recommended, particularly important support and resistance levels that could influence investment decisions.
