Bitcoin News Today: Bitcoin Holds Near All-Time High Without Signs of Overheating

Bitcoin continues to hold near its all-time high as market indicators suggest the current rally remains within a healthy range, with no clear signs of overheating. The cryptocurrency is trading above the $115,000 level after briefly dipping below it earlier in the month, with key technical levels and on-chain metrics supporting the bullish momentum [1]. The BTC Z-Score, a statistical measure of price momentum relative to its one-year average, currently stands at +1.5σ, well below the +2.5σ threshold historically associated with market euphoria [2]. This suggests the market still has room to rise without triggering a correction.

The broader crypto ecosystem is also showing signs of strength, with Ethereum experiencing significant gains and altcoins beginning to show momentum. Analysts are divided on whether this marks the start of a broader altcoin season or a delayed response to Bitcoin’s earlier rally [1]. According to Axel Adler, the market’s current environment is favorable for further upside, although normalization between price and on-chain activity is still pending [3].

On-chain data highlights a key divergence between Bitcoin’s price and network usage. The Adjusted Price Divergence (APD) remains at –1.5, indicating that while prices are rising, on-chain activity is lagging [4]. Adler notes that this suggests the price move is driven more by investor sentiment than by fundamental network usage. For the rally to gain more structural support, APD would need to approach zero — either through rising network activity or a moderation in price [5].

Miner health is another area of focus. The % BTC price change since the last difficulty bottom is currently at +7.4%, placing the metric in the green zone [6]. This indicates that mining operations are no longer under significant stress and suggests a lower likelihood of forced selling from the sector [7]. Adler pointed out that miner health is currently neutral to positive, with the reading far from the euphoric levels seen in previous market peaks [8]. Key factors to watch include future difficulty adjustments, miner profitability, and reserve selling activity.

Technically, Bitcoin is consolidating above the $115,724 support level, having stabilized just above the 50-day, 100-day, and 200-day moving averages [9]. The 50-day SMA is currently at $113,324 and has acted as a strong support level during the recent uptrend. The next major resistance is estimated at $116,600–$116,700, with a potential breakout toward $118,000 if bulls manage to push through [10]. On the downside, a break below $115,724 could trigger a pullback toward $114,000 or $112,500, with the 100-day SMA at $108,983 serving as the next key level to watch.

Volume on the recent rebound has been modest, suggesting that stronger buyer participation will be needed to sustain further upward movement [11]. The market remains in a consolidation phase, and a decisive close above $118,000 will likely determine the next major direction. While Bitcoin continues to show resilience, the path forward will depend on both technical strength and macroeconomic factors influencing demand [12].

Sources:

[1] "Bitcoin's price eyes new ATH - But THIS gap could slow..." – AMBCrypto, [https://ambcrypto.com/bitcoins-price-eyes-new-ath-but-this-gap-could-slow-btcs-rally/](https://ambcrypto.com/bitcoins-price-eyes-new-ath-but-this-gap-could-slow-btcs-rally/)

[2] "Bitcoin Holds Strong Near All-Time High – Market Not Overheated Yet, Data Shows" – NewsBTC, [https://www.newsbtc.com/bitcoin-news/bitcoin-holds-strong-near-all-time-high-market-not-overheated-yet-data-shows/](https://www.newsbtc.com/bitcoin-news/bitcoin-holds-strong-near-all-time-high-market-not-overheated-yet-data-shows/)