Bitcoin’s “Euphoria Phase” Could Propel It to $115,000

Breaking the psychological barrier of $100,000 could pave the way for digital gold to reach new all-time highs in the range of $110,000-$115,000, according to market expert Crypto Caesar.

$BTC — #Bitcoin: See you at new ATH’s. Green support level is for max buying. pic.twitter.com/iaRVGvmqyh

— Crypto Caesar (@CryptoCaesarTA) April 28, 2025

He believes the support range of $89,000–$90,000 is ideal for active buying and is intended to limit potential price dips for bitcoin. 

The area below, $70,000–$72,000, remains “untapped” for now. It coincides with a diagonal support line that could play a key role if a deeper correction occurs.

“Euphoria Territory”

The increasing share of bitcoins purchased at lower prices indicates an approach to a “historical level of euphoria,” shared CryptoQuant analyst Darkfost.

“Of course, there are levels that can be considered more ‘comfortable’ than others, but overall, the growth in the share of supply in profit usually fuels bullish phases,” noted the expert.

According to his observations, the mentioned indicator has once again exceeded 85%, which is “quite positive.” During the previous correction, the metric fell to almost 75%.

“This is a relatively low level, corresponding to the global average value (normal distribution), which is a critical threshold,” explained Darkfost.

He stated that falling below this value could lead to mass profit-taking “or even trigger a wave of capitulation.”

Is There Room for Decline?

Darkfost also noted that in past market cycles, the lower extremes of “profitable” bitcoin supply reached 45-50% — corresponding to the “deep bear market phase.”

He mentioned that reaching the 90% level traditionally signifies entry into the “euphoria zone.” This is usually followed by widespread FOMO.

“However, such periods can be short-lived and are often accompanied by short- or medium-term corrections,” warned the technical analyst.

At the time of writing, digital gold is trading at $95,100 — 12.8% below the ATH reached on January 20.

As reported, CryptoQuant researchers observed the activation of 62,800 BTC, which had been dormant for over seven years.