Bitcoin’s parabolic rally could last until Christmas with a cycle top near $300,000, according to one analyst.

Bitcoin Christmas rally to $200K or $300K possible based on ‘power law’ model

The Akon City project, a high-profile initiative by singer Akon, has been 
officially terminated following an agreement between Akon and a state owned 
enity. Akon City Terminated Amidst Construction Delays The futuristic crypto- 
themed Akon City project, a high-profile initiative from Senegalese-American 
singer and entrepreneur Akon, has been officially terminated. Akon and the 
Senegalese Coastal Development […]

Akon’s Futuristic Crypto City Officially Terminated

Santiment data shows the number of XRP whales has just hit an all-time high as 
the price of XRP continues to rally.

XRP’s 'very positive sign’ — Whales soar to new highs as price jumps 10%

As Bitcoin (BTC) continues to post new all-time highs (ATH), reaching as much 
as $118,869 on Binance, market indicators show little sign of overheating. The 
lack of retail-driven hype amid BTC&#8217;s record-breaking run suggests there may 
still be room for further growth in the flagship cryptocurrency. Bitcoin ATH 
Sees Absence Of Hype According to a recent CryptoQuant Quicktake post by 
contributor burakkemeci, Bitcoin’s current rally is notably characterized by 
the absence of retail investors. The contributor argues that this lack of 
retail participation implies BTC may still have significant upside potential. 
Related Reading: Bitcoin Rally Ahead? DXY Breakdown Suggests Capital Shift To 
Risk-On Assets The analysis centers on the Spot Retail Activity Through 
Trading Frequency Surge metric, which tracks the frequency of retail trading 
activity in the Bitcoin spot market. The analyst shared the following chart to 
illustrate the trend. When retail trading activity rises significantly 
compared to the one-year moving average (MA), the chart forms bubbles. Green 
bubbles indicate that there are very few retail investors currently in the 
market. Orange bubbles show that trading activity among retail investors is 
picking up. Similarly, red bubbles indicate caution, hinting that there are 
too many retail investors in the market and that it may be a good time to 
consider exit strategies. As the below chart shows, retail activity remains 
subdued &#8211; even as BTC continues to reach new ATHs. In fact, the metric has 
stayed within the gray zone since March 2024, reflecting a lack of mass retail 
entry. Historically, retail trading tends to surge as BTC approaches or 
exceeds ATH levels. The analyst notes that this absence may indicate the cycle 
top is still ahead: The bull market is still largely driven by institutions 
and exchange-traded funds (ETFs). When retail finally enters the scene, that 
might mark the beginning of the final phase. BTC Witnessing Subdued Selling 
Pressure In addition to the low retail presence, other on-chain indicators 
suggest that Bitcoin&#8217;s current rally is not overheating. For example, the 
Miner Position Index has been declining since November 2024, implying reduced 
selling pressure from miners. Another key metric, the Market Value to Realized 
Value (MVRV) ratio, is holding steady around 2.2 &#8211; below the 2.7 levels 
observed during ATHs in March and December 2024. Recent analysis predicts the 
next significant resistance may emerge at around $130,900. Related Reading: 
Bitcoin Heating Up? NVT Golden Cross Hints At Potential Local Top Despite weak 
selling pressure and limited retail activity, some recent exchange trends hint 
at the possibility of a short-term pullback. At the time of writing, BTC is 
trading at $117,746, up an impressive 6% in the past 24 hours. Featured image 
from Unsplash, charts from CryptoQuant and TradingView.com

No Mania Yet: Bitcoin ATH Lacks Hype, Suggesting Further Upside Potential

Bitcoin’s summer rally accelerated in the early hours of 11 July, when the 
benchmark cryptocurrency sliced through $118,000 and printed exchange highs 
that peaked above $118,800, depending on venue data. The spike wiped out an 
estimated $1.25 billion in short positions within a single trading day, 
according to CoinGlass figures. Bitcoin Bull Trap Or Breakout? Capriole 
Investments founder Charles Edwards took to X as the breakout unfolded. “New 
all-time highs beget new ATHs. It’s usually unwise to ignore a major breakout 
like this, until invalidated,” he wrote, adding that corporate treasury demand 
has “grown exponentially, with dozens of new companies popping up in recent 
months.” Edwards’ base-case projection calls for a further 50–70 percent 
advance over the next six months—roughly $170,000–$196,000. Related Reading: 
Research Predicts $160,000 Bitcoin By EOY—If Treasury Firms Hold His focus on 
treasuries is backed by hard data. Public companies added a record 159,107 BTC 
in Q2—pushing aggregate corporate holdings above 847,000 BTC, or about four 
percent of max supply. Corporate Bitcoin acquisitions have even outpaced ETF 
net inflows. Matthew Sigel, head of digital-asset research at VanEck, framed 
Bitcoin’s trajectory within a broader macro and policy backdrop. “The natural 
course for Bitcoin remains higher, driven by persistent US debt and deficit 
problems, demographic tailwinds, a weakening dollar, growing momentum around 
Fed rate cuts, and the potential for a new Fed chair next year,” he wrote on 
X. Sigel also highlighted Capitol Hill’s looming “Crypto Week,” where 
stablecoin legislation is widely viewed as the most passable of several 
digital-asset bills. Those developments, he argues, make $180,000 “very much 
in play for 2025.” Law-makers appear to share the sense of urgency. A press 
statement from the House Financial Services Committee confirms that the week 
of 14 July will be dedicated to advancing the CLARITY Act, the Anti-CBDC 
Surveillance State Act and the GENIUS Act. Passage would establish the first 
comprehensive federal framework for stablecoins and market structure, a change 
Sigel says could “unlock wide-open capital markets” for the sector. Related 
Reading: Bitcoin Is One Candle Away From $141,300 Breakout, Chart Master Warns 
Spot Bitcoin ETFs are hardly idle: net inflows into BlackRock’s iShares fund 
alone have pushed its holdings past 700,000 BTC in the 18 months since launch. 
Yet Edwards and Sigel both note that treasury companies have become the 
marginal buyer in 2025. The dynamic creates what Edwards calls a “cap-raising 
flywheel,” as firms showcase outperforming share prices—up nearly 60 percent 
year-to-date for the treasury cohort—when courting investors. Notably, the 
rally is unfolding against a supportive macro backdrop. Federal Reserve 
Governor Christopher Waller told a Dallas Fed audience he is “open to cutting 
the policy rate in July,” arguing current settings are “too tight” given 
waning inflation pressures. Meanwhile, US President Donald Trump continued his 
attacks on Fed chair Jerome Powell over the past weeks, demanding immediate 
rate cuts. Trump’s tariff escalation also seems to fade out, supporting the 
Bitcoin rally. Notwithstanding euphoric headlines, technicians warn that 
momentum must sustain above $110,000 to avoid a failed-breakout pattern. “This 
theory would be weakened with closes below $110K and invalidated below $105K,” 
Edwards concludes. At press time, BTC traded at $117,854. Featured image 
created with DALL.E, chart from TradingView.com

Bitcoin Soars Past $118,800—Breakout Or Brutal Bull Trap?

Institutional investors across the EU and UK are significantly increasing 
their cryptocurrency allocations, with 86% planning to boost holdings or enter 
the market in 2025, according to a Coinbase and EY-Parthenon survey of 97 
institutions. DeFi Engagement Set to Jump 2.5x in European Institutions Half 
of respondents intend to allocate over 5% of their assets […]