Still Bullish: Bitcoin Climbing, But Euphoric Levels Are Out of Sight

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Institutional adoption and demand from ETFs could push BTC as high as $339,000 in 2025, but the trend of diminishing returns could cap the asset’s gains at $200,000.

Bitcoin is currently trading above $107,000, but analysts at the cryptocurrency exchange Bitfinex say the asset is still far from “euphoric peaks.” Historical data cited by the analysts suggest the crypto market is in the middle of the bull phase and could peak in Q3 or Q4 2025, roughly 450 days after the April 2024 halving.

In a weekly report detailing expectations for bitcoin’s price in 2025, Bitfinex analysts said it could peak at $339,000 or $145,000 due to diminishing returns moderating the level of gains seen in previous cycles.

BTC Still Far From Euphoric Peaks

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