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Bitcoin Hits New All-Time High, Analyst Says Market Still Not Overheated

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  • Bitcoin surged past $111,800 on May 22, gaining over 4% in a single day.
  • Analyst says the market looks stable with low funding rates and limited short term investor activity
  • Price forecasts vary with Titan of Crypto expecting 135000 to 140000 and van Lagen seeing up to 320000.

Bitcoin surged past $111,800 on May 22, setting its second all-time high in just 24 hours after previously hitting $109,800 on May 21. This sharp rise pushed the world’s largest cryptocurrency up by over 4% in a single day. Since the start of 2025, Bitcoin has gained 19%, keeping bullish investors hopeful and attracting fresh capital into the market.

While these record levels signal growing demand, CryptoQuant analyst Crypto Dan believes the market is not overheated. In his latest Quicktake post, he explained that although long bets in the futures market have increased, the overall funding rate remains low. This shows minimal signs of the kind of overheating seen during earlier bull runs.

Bitcoin 15
Source: CryptoQuant

The analyst also reviewed the percentage of Bitcoin traded over the short term, specifically between one week and one month. That metric reflects the pace of short-term capital flow. Despite the recent high, inflows remain slower than they were at previous peaks, suggesting fewer speculative movements than usual.

Bitcoin Profit-Taking Remains Subdued

Profit-taking has also been limited. Short-term holders have not rushed to sell, unlike in March 2024 when heavy selling led to a significant correction. Compared to November 2024, current levels of selling are much lower. Even large holders, often called whales, have not been quick to cash out despite the higher prices.

Bitcoin 16
Source: CryptoQuant

Dan also highlighted the increasing amount of Bitcoin held in spot exchange-traded funds (ETFs), now at an all-time high. These growing holdings reflect broader interest from both institutional and retail investors, especially in the United States. This trend supports continued upward momentum in the market, according to the report.

Bitcoin ETF
Source: CryptoQuant

He concluded that while Bitcoin is trading at record highs, the low funding rate, restrained short-term capital movement, and limited profit-taking all suggest that the market remains stable. Spot ETF inflows provide added strength to this upward trend.

Analysts Eye Higher Targets Ahead

Some traders believe this rally still has more room to run. In a post on May 21, Titan of Crypto, a well-followed figure in the trading space, recently reaffirmed his 2025 price target of $135,000. He bases this on Bitcoin’s movement across long-term support and resistance levels over the past two years, combined with Fibonacci extension tools.

Bitcoin 13
Source: Titan of Crypto

That model places a possible target between $135,000 and $140,000. The 1.618 Fibonacci level, commonly used in market forecasting, sits right in that range, matching the trajectory of Bitcoin’s current trend.

Another technical analyst, Gert van Lagen, has set the bar even higher. He predicted Bitcoin could reach anywhere from $300,000 to $320,000. He referenced the coin’s breakout from a four-year Megaphone Pattern, where the price forms wider swings over time before breaking out sharply upward.

Van Lagen also applied Elliott Wave Theory to support his forecast. Bitcoin is now in the final Wave 5 of an impulse cycle, which, if it completes as expected, could push the coin up another 170% to 190% from current levels.

Read More | Bitcoin (BTC) Breaks $110K Barrier, Reaching New All-Time High

Bitcoin Breaks $111,000 High as ETF Inflow Continually Grows 

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  • Bitcoin price has reached a new high, breaking past the $111,000 mark. This growth is driven by growing investor confidence and a sharp increase in ETF inflows.
  • Bitcoin’s new surge has sparked a rise in other altcoins like Ether, Cardano, and Solana, as global interest in crypto grows.

Bitcoin price has gone past the $110,000 high for the first time. During the surge in BTC price, it was also recorded that the inflow into ETFs (exchange-traded funds) also increased. This increase shows investors’ interest in Bitcoin ETFs and confidence in Bitcoin’s future.

BTC spot ETFs grew to over $600 million in new investments. This new achievement was recorded on Wednesday, and it marked the sixth day in a row that more money was added.

Rising Demand for Bitcoin ETF

According to a report by SosoValue, about $608.99 million in fresh funds were added to BTC spot ETFs, raising the total number of their combined value to $129.02 billion. On Wednesday, people added much more money to BTC ETFs than they did the day before; about 85% more was recorded. While Tuesday saw a $329 million inflow, Wednesday jumped to nearly $609 million. This huge growth was recorded as the sixth day in a row of steady growth, showing that more investors are starting to trust BTC. 

Screenshot 20250522 122428 Chrome
Bitcoin Breaks $111,000 High as ETF Inflow Continually Grows  7

BlackRock’s IBIT saw the highest daily increase with $530.63 million, pushing its total to $46.68 billion. Fidelity’s FBTC followed, collecting $23.53 million and reaching $11.83 billion in total.

Bitcoin’s Rise and Its Impact on Other Altcoins

Ashish Singhal, the co-founder of CoinSwitch, said BTC’s rise is more than just a big moment for the market, but it also shows how people around the world are starting to see crypto as the new way to finance and bank. He also said that the support from U.S. policies and clearer global economic conditions are some of the reasons behind the recent growth.

Additionally, Bitcoin’s new high has brought about the growth in altcoins like Ether, Cardano, and Solana also went up, following BTC’s new high price.

Screenshot 20250522 114753 Chrome
Bitcoin Breaks $111,000 High as ETF Inflow Continually Grows  8

More Reading: Dogecoin Price Prediction: DOGE Chart Suggests $1 By September, Is This $0.07 Token Set To Follow?

Bitcoin’s Next Big Move: Are We Headed for a $130,000 Rally or Decline?

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  • Bitcoin must hold between $93,500 and $95,500 on a three-day basis to prevent a potential drop toward the $72,000 to $73,000 range
  • Large investors known as whales appear to be stepping in possibly stabilizing the market and restraining the ongoing sell-off
  • Despite short-term dips analyst remain bullish, predicting a Bitcoin cycle top between $130,000 and $175,000 based on Fibonacci levels

The price of Bitcoin has sharply fallen down and this has raised some concerns within traders and analysts. The latest decline has caused significant concern with a view to the market conditions in analyzing whether it is set to experience further decline. Amid such high volatility, large investors, known as whales, seem to be gearing up for more control, and possibly combating to restrain the extent of the ongoing sell-off.

Key Levels for Bitcoin

Egrag has unveiled certain crucial levels that could define BTC’s immediate movement. He notes that BTC needs to hold within $93,500- $95,500 on a three-day basis to prevent further drops. If this support collapses, another decline may occur, possibly towards $72,000 to $73,000, which may lead to additional selloffs.  

However, as for now, analyst still believes in the long-term prospect of Bitcoin and other cryptocurrencies. He has kept rallying cycle top forecasts with a minimum of $130,000 as regarded in the current quandary. His profit target is at $ 175,000 based on the Fibonacci 1.618 level. These projections are in line with other analysts’ consensus that the current bear phase in bitcoin can be explained by a long-term bullish one.  

Bulls vs Bears Battle

The next few days shall be very important in as much as its direction is concerned because investors will be trying to figure out whether it can stage a comeback. This movement from institutional buyers and whales may well be enough to hold prices right near the momentary and steady the BTC price and take it toward the important resistance levels. However, if the bearish pressure surrounds the asset, Bitcoin will be unable to surpass crucial levels on the chart.  

The outlook among the investors is still bearish, while some are optimistic because they believe that the current decline is as a good buying signal, there are those who are anticipating more turmoil due to correction. The cryptocurrency market is highly volatile, and for this reason, the price changes of Bitcoin heavily influence the market. Thus, players are being very passive in their trade waiting for a confirmation of a reversal pattern.  

In the near term the direction of Bitcoin depends on whether it will be able to sustain above some important supports. In case bulls take charge of the cryptocurrencies once more, then there is every likelihood that the cryptocurrency would experience a massive bounce up and could gear up for another rally once again. However, if the bearish momentum persists, BTC can return to a sideways trading range or plunge even more. The market now anticipates the next big move that would be instrumental for bitcoin in the coming weeks.