Bitcoin News Today: Bitcoin Has ‘Room for Growth’ as Analysts See Path Toward $300K BTC Cycle Top

Key TakeawaysBitcoin’s on-chain data and technical indicators show no signs of overheating despite record highs near $126,000.Analysts say MVRV Z-Score, Pi Cycle Top, and cup-and-handle breakout patterns all point toward a potential $300,000 BTC target.Ongoing quantitative easing (QE), strong ETF inflows, and institutional accumulation could drive the next leg higher.Bitcoin Market Still Far From OverheatedBitcoin (BTC) is consolidating near $122,700, about 4% below its all-time high of $126,000, but analysts say the market is far from topping out.According to Mark Moss, the MVRV Z-Score — a key metric comparing Bitcoin’s market and realized value — remains well below historical peak levels, suggesting the current cycle still has room to run.“Bitcoin is breaking out to new highs, and yet it’s not looking anywhere near cycle peaks,” Moss noted, pointing to continued macro and institutional support. He cited ongoing Federal Reserve easing, record ETF inflows, and corporate treasury buying as major tailwinds that could extend the rally into Q4 2025.Similarly, CoinGlass bull market indicators show no signs of overheating, while YouTuber Jesus Martinez highlighted that the Pi Cycle Top indicator still targets a $200K Bitcoin, adding that retail interest remains “well below 2021 mania levels.”Technical Patterns Point to $300K TargetTechnically, Bitcoin’s cup-and-handle breakout above $69,000 in late 2024 has set the stage for a potential move toward $303,000, according to chartist Gert van Lagen.The formation’s target represents a 147% rally from current prices, supported by a sequence of mid-cycle resistances near $135,000, $145,000, and $160,000, according to analyst Jonathan Carter.Carter expects Bitcoin’s long-term bullish target this cycle to range between $200,000 and $250,000, with potential pullbacks offering opportunities for late entrants.“Bitcoin’s new all-time high is just the beginning,” Carter said, emphasizing that market structure and macro liquidity remain favorable.Outlook: The Next Leg of the Bitcoin SupercycleAnalysts agree that Bitcoin’s current momentum, supported by institutional demand and macro tailwinds, could sustain growth through 2026.While short-term profit-taking could trigger a dip toward $114,000, the broader outlook remains decisively bullish, with several technical models converging toward $300,000 as a plausible cycle top, according to Cointelegraph.