Bitcoin Could Go Much Higher Due to Low FOMO and Futures Market Calm
As of May 22, Bitcoin is trading at over $111,000, and you’d expect a frenzy of tweets, moon emojis, and get-rich-quick sentiment. But surprisingly, the mood across the crypto space is… well, pretty chill.
According to economist and crypto commentator Alex Krüger, this is “the least euphoric” Bitcoin rally to new highs he’s ever seen. And that’s not just a gut feeling — the funding rates, stablecoin trends, and profit-taking metrics all back it up.
1. Funding Rates Are Way Below Previous Highs
Funding rates — the fees paid by leveraged futures traders — are a classic measure of speculative hype.
- During the previous highs in March and November 2024, funding rates were 3x to 6x higher than they are now.
- The current low funding rate shows that spot buyers, not leveraged traders, are driving this move.
Why does that matter?
It means:
- The rally is healthier.
- There’s less risk of sudden liquidations.
- We’re not yet in a crowded trade, leaving room for new capital.
2. Stablecoin Supply Is Climbing Steadily
If you want to know how much fresh money is waiting to enter the market, look at stablecoins.
- Tether (USDT) supply has jumped from $139B to $152B in 2025.
- USDC has grown 35% to reach $58B.
- Overall, stablecoins are now 14% of the crypto market cap.
Translation?
Stablecoins are dry powder. They’re sitting on the sidelines, waiting to be deployed into crypto assets like Bitcoin. The recent rise shows liquidity is ready, but hasn’t yet fully entered the game.
3. Global Money Supply Is Expanding
In case you missed it, global central banks are quietly loosening the taps.
- M2 money supply (total cash + short-term deposits) grew by 5% in Q1 2025 across the US, EU, and Japan.
- Historically, there’s an 80% correlation between M2 growth and Bitcoin’s price — with a 60-day lag.
What does that mean?
The surge in global liquidity is only beginning to reflect in Bitcoin’s price. If history repeats, we could see even more upside in the next 1-2 months.
4. Profit-Taking Remains Surprisingly Low
You’d think people would be cashing out in droves at these all-time highs. But data from Glassnode tells a different story.
- When BTC first hit $100K in December, $2.1 billion was realized in profit.
- On May 21, as BTC hit a new high, only $1 billion was taken in profit.
So what gives?
Long-term holders appear to be holding strong, expecting further price appreciation. This shows confidence — not exit behavior — dominating the market.
5. Bitcoin Rally Is Still Under-Owned
Even though BTC is back in price discovery, participation levels remain surprisingly modest.
- Google Trends for “buy Bitcoin” is still well below 2021 levels.
- Retail has yet to truly FOMO in.
- Most of the rally has been powered by institutional and smart money flows.
That’s good news for bulls.
Once retail interest kicks in, we could enter a second phase of the rally, where the price accelerates due to sheer demand and enthusiasm — the classic final leg of a crypto bull run.
Final Thoughts: This Rally Has Room to Run
The 2025 Bitcoin rally is defying past bull market playbooks.
We’re seeing:
- A disciplined market driven by spot demand.
- Low speculative noise.
- Rising liquidity, both fiat and stablecoin-based.
- High conviction holders staying put.
- And macroeconomic conditions that are quietly fueling risk asset growth.
All this suggests Bitcoin is far from topping out.
As one analyst aptly put it:
“If this is Bitcoin’s all-time high rally without FOMO, imagine what happens when FOMO actually kicks in.”
FAQs
Is it too late to buy Bitcoin now?
Not necessarily. While BTC is at all-time highs, many indicators show the market isn’t overheated yet. As long as funding rates stay low and long-term holders don’t dump, there may still be significant upside.
What price could Bitcoin reach next?
Analysts are eyeing the $125K–$150K range if liquidity continues to flow in and macro conditions stay favorable.
Should I wait for a dip?
That depends on your investment horizon. While a correction could happen, current market data suggests any pullbacks may be short-lived and shallow.
Stay tuned — the next leg of Bitcoin’s journey could be its most exciting yet.
