- Bitcoin has jumped from $785 in 2018 to $119K in 2025, and the Pi Cycle Top indicator still shows no signs of a market peak.
- The Pi Cycle Top has predicted past cycle tops, but its current silence hints at more upside ahead as momentum continues building.
- BTC’s 151x growth since 2018 shows long-term strength, and history suggests the current cycle could deliver even bigger returns.
Bitcoin’s price has soared to $119,000, yet one of the market’s most accurate top indicators remains quiet. The Pi Cycle Top, known for calling the peak of the last three bull markets, has not triggered. This suggests that Bitcoin’s current cycle may still be far from its peak. According to Bitcoin Archive, during this same phase in past cycles, BTC went on to rally 25x and 6.4x further. If history repeats even partially, the upside potential could be massive.
The long-term chart from July 2018 to July 2025 tells a compelling story. Back in 2018, Bitcoin was priced at about $785. It steadily climbed, reaching $10,000 by 2021—a 25-fold increase over just three years. Even with its notorious ups and downs, the overall trend has been quite positive.
Source: Bitcoin Archive
From $785 to $119K in Just Seven Years
Bitcoin’s second major leg started in 2021. From $10,000, it surged to today’s level of $119,000. That’s a 6.4x jump in under four years. In total, Bitcoin has grown nearly 151 times since 2018. This move shows just how far institutional adoption and mainstream belief have pushed crypto forward.
The chart includes red and green markers, likely showing sentiment or trading volume. These appear near key turning points. They show where investor fear turned to greed—and vice versa. A white momentum line at the bottom swings between bullish and bearish zones. It reflects the emotional cycle that drives crypto prices.
Pi Cycle Top Indicator Signals More Room to Run
What stands out is that the Pi Cycle Top hasn’t flashed. In past bull markets, this signal correctly marked major tops. Its silence now gives bulls hope. Additionally, the current rally still shows strong upward momentum. Corrections have occurred, but each one set the stage for another leg up.
