May 2025 will go down in history: Bitcoin has surpassed 111,970 dollars, an unprecedented peak that electrifies the market. However, behind the euphoria, analysts are tempering expectations. This surge comes on the eve of a historically fragile third quarter for the asset. Amid speculative excitement and signs of consolidation, uncertainty grips investors. Should this be viewed as the beginning of a new cycle or the start of a strategic pullback? Doubt settles in, fueled by lessons from the past and upcoming tensions.