Bitcoin’s Bull Run: Analysts Eye $130K Before the Hype Cools
- Keyword Financial
- Jul 16
- 2 min read

Introduction
A recent report from Glassnode suggests that Bitcoin’s current rally still has significant momentum, with the potential for prices to reach as high as $130,000 before demand begins to cool off. The analysis highlights that 95% of short-term holder (STH) supply is currently in profit, which is notably above the long-term average of 88%. This marks the third time since early May 2025 that such a high percentage of STH supply has been in profit, indicating strong market sentiment and ongoing bullish momentum.
The report also points out that these profit levels are more than one standard deviation above the historical mean, a technical indicator that often signals a market that is approaching a potential inflection point. However, previous instances of similar profit-taking have not immediately led to a sharp decline, suggesting that there may still be room for further price appreciation before a significant correction occurs. This is supported by continued interest from both retail and institutional investors, as well as ongoing positive market fundamentals.
Overall, while the current rally has pushed Bitcoin to new highs and created substantial profits for short-term holders, analysts caution that the market could eventually see a cooling-off period as profit-taking increases. For now, though, the data indicates that the rally could continue, with the $130,000 mark serving as a potential target before any major slowdown in demand is likely to occur.