Bitcoin Approaching Euphoria Stage as Bull Market Shows Resilience, According to On-Chain Expert
In the dynamic world of finance, Bitcoin and other cryptocurrencies continue to make headlines. As of early August 2025, Bitcoin has reached new all-time highs, surpassing $124,000 and overtaking Google to become the fifth-largest asset by market capitalization[1][3][5]. This monumental rise has been fueled by strong institutional accumulation, significant inflows into Bitcoin ETFs, a friendlier U.S. regulatory environment, and broad macroeconomic tailwinds such as expected U.S. interest rate cuts.
The market environment exhibits hallmark signs of entering the euphoria phase, a period often preceding a peak. Several indicators and market behaviors suggest this bull run could be "bulletproof," as noted by pseudonymous analyst Checkmate in a recent interview on the What Bitcoin Did podcast[6].
Checkmate, well-known for his insights, has noted a stair-stepping pattern and gaining "serious momentum to the upside" that could bring Bitcoin "closer to a meaningful top." This pattern, combined with the total cryptocurrency market cap hitting a record $4.1 trillion, underlines the massive capital inflows and institutional presence bolstering confidence[3].
However, some caution is evident. Decreased trading volumes and recent minor price dips show some investor prudence or fear, as indicated by a Bitcoin Fear and Greed Index near 35 (fear territory)[2]. This can represent consolidation before a new leg up or potential volatility.
Despite these risks, if momentum sustains, BTC prices could surge towards $130,000+ in the near term. However, volatility and a sharp correction typical of euphoria phases remain risks for traders to manage[1][4][5].
Meanwhile, in other news, Wells Fargo has refused to reimburse a customer after a loss of $13,000 due to bank fraud[7]. Elsewhere, a man accused of kidnapping and torturing a victim for $100,000,000 in Bitcoin has been released on bond[8]. Furthermore, 200,000 potential victims have been identified due to malware disguised as legitimate apps cracking bank accounts[9].
As Bitcoin continues its ascent, it's crucial for investors to stay informed and vigilant. The Daily Hodl will continue to provide updates on Bitcoin, Ethereum, Altcoins, Financeflux, Trading, NFTs, Blockchain, Futuremash, Regulators, Scams, Hacks & Breaches, and more.
[1] CoinDesk [2] Crypto Fear & Greed Index [3] Bloomberg [4] Decrypt [5] CNBC [6] What Bitcoin Did Podcast [7] CNN Business [8] Reuters [9] KrebsOnSecurity
Cryptocurrency's market capitalization has surpassed $4.1 trillion, with Bitcoin reaching close to $130,000, gaining serious momentum and exhibiting a stair-stepping pattern. Meanwhile, investors should remain vigilant as incidents like bank fraud, kidnapping for Bitcoin, and malware targeting bank accounts continue to emerge in the world of finance.
