CryptoQuant analyst: Despite Bitcoin hitting a record high, there are no signs of overheating yet

CryptoQuant analyst Axel Adler Jr. tweeted that despite Bitcoin's all-time high, the BPT remains at a moderately high 2.56 (below the local peak of 3.57), meaning it's a "warm" temperature for the current cycle, but not yet showing clear signs of overheating. The price remains above the 4-year moving average and its +2σ (green), confirming the bullish trend. The main risk is a typical correction in an uptrend, which would be signaled later when the BPT accelerates above 3.0.