Bitcoin (BTC) has kept investors on their toes since it surpassed $100,000 on May 8. Many market participants expected a bullish trend that would push past its all-time high of $109,114. However, this hasn’t occurred yet. Consequently, some traders speculate that Bitcoin may be overheated. Despite these concerns, on-chain data suggests underlying strength, signaling that a significant rally may still be on the horizon. Analysts continue to keep a close eye on this leading cryptocurrency as it navigates through volatility while presenting intriguing opportunities for investors.