Can Bitcoin reach new highs again? Will the bull market continue in 2025?

From on-chain data and market sentiment, the current market is overall still in a "middle" state, neither too "hot" nor too "cold".

For instance, from the Bitcoin rainbow chart, it is currently in the holding phase, just at the middle state of 9 indicators, with 4 stages above representing bubble, severe bubble, etc., meaning that most Bitcoin holders are still in a wait-and-see state.

From the Bitcoin HODL wave, the data for short-term holders below one year has been shrinking during this round of Bitcoin price surge surpassing $100,000;

This means that many new investors who bought Bitcoin have already sold it, which can also be attributed to the three significant drops in December, achieving the purpose of washing out positions;

Meanwhile, the proportion of long-term holders is continuously increasing, indicating that large holders remain optimistic about the market's future. Those declaring the bull market has ended are likely just shooting from the hip, entirely based on gut feelings.

Don't stop farming just because a crow caws!

On January 20, Trump was inaugurated as President of the United States; on January 31, the Federal Reserve's interest rate decision; Bitcoin is expected to reach a new historical high by the end of January, pushing towards $120,000, and then the explosive growth of altcoins will also enter the fast lane! Look back at this tweet then! $BTC