Bitcoin’s Bull Run Hits a Wall? Analyst Spots Local Top at $113K
Bitcoin’s relentless rally might be taking a breather—or is this the start of a deeper pullback? One analyst flags $113K as a potential local top, leaving traders scrambling to adjust their positions.
After months of euphoria, the crypto king faces its first real resistance level. Will institutional FOMO push it higher, or is this where the leverage longs get liquidated? Only time—and maybe a few overleveraged hedge funds—will tell.
Funny how ’local tops’ always appear right after CNBC runs a ’Why Bitcoin Is Inevitable’ segment. Coincidence? Probably not.
Once BTC Local Top Is In, Altseason Is Next: Analyst
In a recent post on the social media platform X, crypto analyst Joao Wedson pinpointed a potential local top for the bitcoin price around $113,000 and $114,000 in the coming days. The on-chain analyst highlighted two primary reasons why the market leader’s bullish momentum might wane in the short term.
Firstly, this bearish projection revolves around the appearance of a long-term trendline on the daily BTC chart. As observed in the chart below, the trendline acts as a resistance level for the Bitcoin price, precipitating multiple rejections since early 2021.
Additionally, the 2021 cycle top (and then all-time-high price) around $69,000 came about after reaching this long-term trendline. Most recently, Bitcoin’s previous all-time-high price of $108,786 culminated around this long-term resistance level.
Wedson also noted that the bitcoin Aggregated Liquidation Levels Heatmap supports the $113,000 – $114,000 local top theory. According to the liquidation data, the Bitcoin price has suffered a pullback around the $110,000 level over the past six months.
Most interestingly, Wedson pointed out that altcoins could surge back to life in the months following the price of Bitcoin reaching its top. While Bitcoin’s dominance was experiencing a correction in the past week, the metric received a major boost after the price performance of BTC in the last few days.
The talk of an altcoin season has always been in the crypto air since the start of 2025, especially with the price of Bitcoin seemingly reaching a cycle high (at the time). However, the altseason appears to be more of a fantastical idea, as the world’s largest cryptocurrency continues to lead the pack by a significant mile.
Bitcoin Price At A Glance
The price of Bitcoin fell beneath the $109,000 level in the late hours of Friday in what looked like a reaction to United States President Donald Trump’s tariff threat on European Union goods. As of this writing, the flagship cryptocurrency is valued at around $108,500, with a 2.3% price decline in the last 24 hours.
