Who would have thought we’d see Bitcoin shoot through the roof this quickly, soaring past $100K, albeit retreating slightly at present?

As we move forward into 2025, the main question on our minds is: what lies ahead? Is Bitcoin (BTC) a bubble about to burst, or are we on track for $150,000–$200,000 soon? Are there any rational tools to predict its trajectory, or are we left to just play guessing games?

From what I’ve observed, the fog starts to lift when you examine on-chain and technical indicators, while also factoring in the macro perspective. Let’s layer these three types of analysis in this article to see what picture emerges for Bitcoin’s next move.

Extreme greed, rising active addresses, and record hash rate

The Crypto Fear and Greed Index is currently at 78, indicating Extreme Greed, which often signals potential tops in the short term. However, sustained levels of extreme greed during bull markets often align with parabolic price increases before final peaks.

This typically precedes short-term pullbacks due to market exuberance, which appears to be what we’re witnessing now as Bitcoin’s price hovers around the $100K level.

The number of active addresses is increasing and, as of Dec. 8, stands at 855,153, suggesting heightened interest and usage of the Bitcoin network.

As of Dec. 9, 2024, Bitcoin’s hash rate is approximately 850.70 EH/s, reflecting a significant recovery from recent fluctuations but remaining below its a

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Author: Mike Ermolaev