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Bitcoin consolidates below $109K after a rally to nearly $112K, with RSI cooling from overbought levels.
Futures data shows rising sell-side pressure, but institutional interest and technical structure support further upside.
Analysts forecast BTC reaching $135K to $150K in the coming months if support holds and breakout resumes.
Following a breathtaking rally that saw Bitcoin (BTC) reach an all-time high of nearly $112,000 on May 22, 2025, the cryptocurrency appears to be taking a breather. Currently trading around $109,022, BTC’s short-term momentum has slowed, a typical cooling-off phase following such an intense uptrend.
Despite the pause, the broader outlook remains bullish. Bitcoin has gained over 50% since April 1, and analysts maintain that the digital asset is still in a strong uptrend, potentially setting up for a run toward $150,000 in the coming months.
The Relative Strength Index (RSI) peaked at 79.6 during the rally, signaling extreme overbought conditions. Since then, RSI has dipped to around 64.93, still bullish, but indicative of slowing buyer strength.
Additionally, while Bitcoin futures open interest (OI) hit record highs and funding rates climbed in tandem with the price, the perpetual Cumulative Volume Delta (CVD) declined by 43%, falling from -$425 million to -$608 million. This drop highlights a rise in sell-side pressure, suggesting that traders are becoming more cautious.
“The persistent decline in CVD reflects bearish sentiment, highlighting dominant sell-side pressure in Bitcoin’s futures market,” Glassnode noted.
The daily BTC chart illustrates a strong ascending channel since April, with price currently consolidating near the top boundary.
Key highlights from the chart:
BTC is trading at $108,900, just under the critical resistance at $109,332 (1.0 Fibonacci extension level).
Short-term support lies at $105,647 (20-day EMA), with stronger cushions at $99,468 and $95,276 (Fib 0.618).
If Bitcoin sustains its upward channel, the next bullish target lies at $118,806 (1.272 Fib level).
The current RSI sits at 64.93, indicating that BTC is cooling from overbought territory but remains in a bullish range.
This setup shows BTC in a classic consolidation pattern after a parabolic rise, often a precursor to another breakout.
Even with momentum easing, prominent analysts remain optimistic:
AlphaBTC noted that BTC has held above $106K for several days, a key support zone that validates the uptrend. He projected a breakout above $120K if BTC continues its channel movement.
Michael van de Poppe, founder of MN Capital, sees potential for a short-term correction to $ 102,000, followed by a rally to $ 115,000 and beyond.
Titan of Crypto applied Fibonacci cycles to project a cycle top around $135,000, assuming BTC mimics its 2024 performance.
Rekt Capital introduced the idea of BTC entering “Price Discovery Uptrend 2”, with parallels to early 2024, when Bitcoin surged 91% in a similar structure. His long-term projection indicates a potential of $150,000.
Institutional interest continues to underpin Bitcoin’s strength. Notably, Trump Media & Technology Group recently proposed raising $2.5 billion for Bitcoin investments, reinforcing the narrative of BTC as a treasury asset among corporations.
Additionally, Chainlink co-founder Sergey Nazarov commented on Bitcoin's growing reputation as a “safe haven asset”, comparing it to digital gold amid global fiscal uncertainty.
These macro and corporate developments contribute to Bitcoin’s long-term appeal, especially as governments globally grapple with debt, inflation, and currency devaluation.
Also Read: What Happens to Bitcoin After $112K: Surge or Sell-Off?
Bitcoin’s current slowdown is not a sign of weakness, but rather a healthy consolidation after a record-breaking surge. With institutional interest at all-time highs, strong on-chain fundamentals, and historical patterns aligning, BTC remains well-positioned for further gains.
As the market awaits its next catalyst, possibly macroeconomic or regulatory, the key levels to watch remain $106K on the downside and $112K - $120K as the breakout zone. For traders and long-term investors alike, the message is clear: Bitcoin’s next major move may just be gearing up.
Also Read: Bitcoin Price Holds Near $109K as Market Consolidates
