Cryptocurrency analyst Axel Adler has assessed the current market outlook for Bitcoin. As of today, Bitcoin is trading at $117,000, a growth zone between the “Investor Price Average” of $92,000 and the “Hype Alert” level of $139,000, Adler said. This suggests that investors still have confidence in the market and are inclined to maintain or increase their positions as long as the price remains in this comfort zone, according to the analyst. Adler argued that the extreme optimism level hasn't been reached yet, so there's still room for the price to rise to $139,000. Furthermore, the 30-day moving average of the Fear and Greed Index has returned to “optimism” territory and is currently at 72. This ratio suggests we haven't yet reached the extreme greed zone of 75-80, seen during the local peaks in March and December 2024. According to Adler, bulls still have significant room to maneuver to push the price higher. Related News: Altcoin That Previously Avoided Doing Business in the US Returns to the Country: Announcement Made According to the analyst, the macroeconomic backdrop also signals positive signals for Bitcoin. Retail growth, a stable labor market, and falling inflation expectations support the bullish structure. Institutional investor inflows are also contributing to this outlook. Adler notes that Bitcoin is consolidating below $123,000 and has the potential to test $125,000–$130,000 with low inflows and moderate profit-taking. *This is not investment advice. Continue Reading: Renowned Analyst Assesses Bitcoin Price for the Coming Days! How High Can It Go? What Is the State of the Fear and Greed Index?
