Bitcoin Is Not Topping—It’s Coiling

Current Cycle Metrics: Holding Firm Below All-Time High

At the time of this report, Bitcoin is trading at $115,215, having pulled back 7.4% from its August 13th all-time high of $124,400. The CBBI Confidence Score sits at 75, suggesting we remain in the final third of the historical bull run model—but not yet at euphoria.

The Fear & Greed Index has recovered to 53, a neutral zone that aligns with the current consolidation period.

Macro Backdrop: DXY, M2, and Rate Liquidity

The macroeconomic picture remains supportive of further Bitcoin price appreciation. The U.S. Dollar Index (DXY) has formed a multi-month descending wedge and currently trades at 97.681. A bearish break here would represent a major tailwind for BTC-denominated assets.

Money supply is also expanding again. M2 is now $22.12 trillion, with a weekly increase of $94.6 billion, suggesting liquidity is slowly returning—a condition historically correlated with upward pressure on Bitcoin price and asset…