Bitcoin at ATH Raises Signals of Possible Bull Run Pause

What is the probability that the bullish move is over? In my view, it’s leaning to the downside given the current setup: Bitcoin is at an all-time high (ATH) and Ethereum has surged significantly over the past six months. The recent correction around 1400 (on Ethereum) is a reminder that momentum can cool, even when the macro wave remains strong.

From a market psychology standpoint, reaching ATH often accompanies profit-taking and heightened volatility, which can flip trend dynamics in the short term. While on-chain activity and macro liquidity remain supportive, the risk of a pause or a deeper pullback increases if new catalysts don’t materialize or if macro conditions tighten.

In short, the evidence points to elevated uncertainty about the durability of the upswing. Traders should be prepared for possible range-bound action or a test of supports rather than an outright continuation of new highs in the immediate horizon.