Bitcoin could go much higher due to lack of FOMO and futures market euphoria — Analysts
Bitcoin (BTC) reached a new all-time high of $111,860 on May 22, 2025, but market enthusiasm is notably low. Funding rates for Bitcoin are significantly below previous highs, indicating minimal speculative activity and a rally driven by spot buyers rather than leveraged traders. This suggests Bitcoin has not yet entered a euphoric state. The stablecoin market capitalization has increased, with Tether’s market cap rising to $152 billion and Circle’s USDC supply growing by 35% to $58 billion, indicating untapped liquidity available for investment in crypto assets. Global M2 money supply grew by 5% in Q1 2025, correlating strongly with Bitcoin's price movements. Profit-taking among Bitcoin holders remains muted, with only $1 billion realized during the recent price peak, less than half of the amount during the previous high. This restrained profit-taking reflects confidence in future price increases and suggests that the current rally is not overcrowded, allowing room for new capital influx.
