30 Bitcoin Indicators Signal Bull Run Toward $230K Peak

30 Bull Market Indicators Suggest Bitcoin Could Hit $230K

Despite Bitcoin trading near all-time highs, analysts say the top is still far off — and the data agrees. According to crypto analytics platform CoinGlass, not one of its 30 long-term bull market peak indicators has signaled a top, even as BTC hovers above $104,000.

The message? Investors should “hold 100%” of their Bitcoin allocations, as the current rally could have up to 120% more upside, potentially pushing BTC toward the $230,000 mark in this market cycle.

CoinGlass: “No Market Exhaustion Yet”

The “bull market peak” dashboard curated by CoinGlass tracks 30 on-chain and market-based indicators designed to catch historical BTC tops. These include well-known models such as:

• Pi Cycle Top

• Market Value to Realized Value (MVRV)

• Long-Term Relative Strength Index (RSI)

As of June 13, none of these tools suggest that Bitcoin is overheated. Analyst Cas Abbe emphasized that several of these indicators still point to a healthy and expanding bull market, stating, “This ain’t the top.”

Source: CoinGlass

CoinGlass currently lists BTC as a “hold 100%” asset — meaning long-term holders should not take profits just yet, according to historical cycle signals.

Comparing Today’s Market to 2021

Still, not everyone is convinced of continued upside. Some traders are drawing comparisons to late 2021, when Bitcoin’s last bull market fizzled into an 80% decline.

Popular trader Roman argued that current price action resembles a distribution phase, rather than bullish accumulation.

“Price can barely push higher without retracing — this suggests bigger players may be selling into strength,” he posted on X.

Adding to this caution, John Bollinger, creator of the Bollinger Bands indicator, recently warned of potential consolidation or reversal, noting repeated rejections around current price levels.

BTC/USD chart with Bollinger Bands data. Source: John Bollinger/X

Institutional Demand: A Key Difference

Unlike 2021, however, this bull market features a critical variable: institutional demand. From spot Bitcoin ETFs to major firms adding BTC to treasuries, the level of institutional involvement is higher than ever — and may provide stronger support for continued price appreciation.

As Bitcoin becomes more integrated into traditional finance, analysts suggest that the risk of extreme drawdowns may be reduced compared to past cycles.

Final Thoughts

While short-term traders may eye consolidation, long-term data tells a different story. With 30 major indicators still signaling a healthy bull cycle, Bitcoin could very well be on a path to $135K–$230K.

For now, holding your BTC might just be the smartest move — especially as key metrics suggest the top is still ahead, not behind.