Bitcoin News: Bitcoin Bull Market Nearing Peak? On-Chain Data Signals Late Cycle Phase

Bitcoin's recent price action and on-chain metrics suggest the current bull market may be approaching its final stages. Here's what investors need to know about BTC's potential cycle top and price targets for Q3-Q4 2025.Key Takeaways:- Bitcoin's 700% rally from $15,500 to $124,500 indicates a possible market top within 2-3 months.- 91% of BTC supply in profit for 273 days, signaling late-cycle behavior.- Critical support at $110,000-$112,000; breakdown could trigger drop to $90,000-$100,000 range.Bitcoin's Bull Run: Late Maturity Phase AnalysisAs of August 21, 2025, Bitcoin (BTC) is struggling to reclaim the $114,000 level, with on-chain metrics suggesting waning bullish momentum. The cryptocurrency's incredible 700% surge from its November 2022 low of $15,500 to last week's all-time high of $124,500 mirrors patterns seen in previous market cycles.On-Chain Indicators Point to Cycle PeakMarket intelligence firm Glassnode's latest Week On-chain report highlights several key metrics:1. Supply in Profit: 91% of Bitcoin has remained profitable for 273 days, the second-longest streak on record.2. Long-Term Holder (LTH) Behavior: Heightened profit-taking by LTHs, comparable to past euphoric phases.3. Cycle Duration: Current cycle length aligns with historical pre-peak periods.Glassnode concludes, "These signals reinforce the view that the current cycle is firmly in its historically late phase."Price Action and Support LevelsBitcoin's recent rejection at $114,000 strengthens the case for potential downside. Key levels to watch:- Critical Support: $110,000-$112,000 zone- Potential Buy Zone: $100,000-$90,000 range if support breaksAnalyst Michael van de Poppe suggests the $112,000-$110,000 region could offer a "great buy opportunity" if tested, according to Coitnelegraph.Looking Ahead: Cycle Top PredictionsBased on historical halving cycles, popular crypto analyst Rekt Capital predicts a potential bull market peak in mid-September to mid-October 2025, just 1-2 months away.Investors should closely monitor Bitcoin's price action around the $114,000 level and weekly closes relative to this threshold for confirmation of trend direction.