Key takeaways:

Bitcoin’s RSI has dropped 15% and is now below the overbought threshold.

Bitcoin futures flip bearish with a 43% decline in perpetual CVD.

Analysts predict Bitcoin could reach $150,000 as long as a key support level holds.

Bitcoin’s (BTC) price hit fresh all-time highs of nearly $112,000 on May 23, gaining 50% from its April 1 lows. According to analysts, BTC price is now “showing signs of easing momentum” as it consolidates. 

Bitcoin’s rally to $111K triggered buyer fatigue

BTC’s recent run to $111,000 pushed the daily relative strength index (RSI) into the overbought zone at 79.6. However, “signs of easing momentum” have emerged as the RSI dropped by 15% to 67, said market intelligence firm Glassnode in its latest report, adding:

“This decline may signal cooling buyer enthusiasm, reduction in upward momentum and a potential pause or reversal in the recent bullish trend.”Bitcoin: 14-day RSI. Source: Cointelegraph/TradingView

Additional data from Glassnode shows that while Bitcoin futures open interest (OI) rose to all-time highs and funding rates increased with BTC’s all-time highs, the perpetual CVD trended lower, hinting at “stronger sell-side flows” and a more cautious stance among traders.

Related: Bitcoin stalls at $110K but institutional investors continue gobbling up BTC

The chart below shows that Bitcoin’s perpetual CVD has dropped significantly to -$608.2 million from -$425.4 million, marking a 43% decrease.

Glassnode added:

“The persistent decline in CVD reflects bearish sentiment, highlighting dominant sell-side pressure in Bitcoin’s futures market.”Bitcoin: Perpetual CVD. Source: Glassnode

Bitcoin traders set $150,000 BTC price target

Data from Cointelegraph Markets Pro and TradingView showed Bitcoin trading at $109,600 on May 27. BTC price has closed above $106,000 the last seven days, reinforcing the importance of this level to buyers.

“Bitcoin is still holding above the 106K level,” said analyst AlphaBTC in a May 27 post on X.  

An accompanying chart showed Bitcoin trading in an ascending channel in the 12-hour timeframe, with a BTC price target above $120,000.

In a May 22 X post depicting a similar technical setup, AlphaBTC said:

“After taking the all-time high, I am watching how $BTC performs over the next couple of days. Ideally, it blasts up and shows strength to leave the breakout to be tested in the future.”BTC/USD 12-hour chart. Source: AlphaBTC

MN Capital founder Michael van de Poppe said Bitcoin is “looking to attack” all-time highs, but it could retest the $102,000 level before relaunching higher toward $115,000 and beyond. He added:

“Up we go.”

Using Fibonacci retracement levels, Titan of Crypto predicted a cycle top of $135,000 for BTC price if it repeated a 2024 pattern in the weekly timeframe. 

#Bitcoin 100% Fibonacci Extension at $135,000 🎯#BTC is replicating the same pattern. pic.twitter.com/m18vvBaYDQ

— Titan of Crypto (@Washigorira) May 27, 2025

Fellow analyst Rekt Capital shared his Bitcoin price discovery roadmap, showing that BTC was “transitioning into Price Discovery Uptrend 2,” as shown in the chart below.

This is similar to BTC’s price action between January 2024 and March 2024, when BTC/USD rallied more than 91% to its previous all-time highs above $73,000. According to the analyst, if the same scenario were to play out, BTC could reach its next peak of around $150,000.

BTC/USD weekly chart. Source: Rekt Capital 

As Cointelegraph reported, Bitcoin is looking for its next catalyst to reach the target of $155,000 after successfully retesting the key level at $106,000.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.