Glassnode: Low Trading Volume Hinders Bitcoin’s Path to $200,000

The leading cryptocurrency is unlikely to reach the $200,000 mark this year, according to on-chain analyst James Check.

Hot new episode off the printer, with @_Checkmatey_ from @_checkonchain

We discuss:

-How he was able to predict Bitcoin’s ATH breakout
-How to approach the current price discovery phase
-Early signals that already foreshadow the future bear market
-Key Bitcoin price levels… pic.twitter.com/ijXpzkYn63

— Pahueg (Less Noise More Signal) (@pahueg) July 21, 2025

According to him, such growth lacks buying activity. Check noted that reaching this level in six months would nearly double the asset’s current capitalization.

“How on earth can we grow when there’s no volume?” the expert questioned.

He considers such a leap “very unlikely” without stable support. The analyst added that he would not open risky positions until the market stabilizes.

Check warned that rapid growth without strong support could lead to an equally swift decline.

“Otherwise, you’ll be trading in a void and fall back just as quickly,” he explained.

However, Check acknowledged that no one knows the future price movement. He holds a significant portion of his capital in the leading cryptocurrency and is confident that in five years its price will be “significantly higher” than $200,000.

At the time of writing, digital gold is trading at $118,592 (-0.6% over the day), according to CoinGecko.

Earlier, analysts at TD Cowen stated that Bitcoin could reach $155,000 by December 2025.

Later, experts at Fairlead Strategies forecasted a rise in the leading cryptocurrency to $135,000, followed by a correction.