🔵Bitcoin recently hit $104,087 but has since entered a consolidation phase, struggling to maintain levels above $100,000. While investors remain cautiously optimistic, concerns over a potential trend reversal persist.
🔵A major risk lies in the NUPL (Net Unrealized Profit/Loss) indicator, which has reached 0.59—an extreme level of unrealized profit associated with market euphoria. Historically, such peaks often precede corrections as investors lock in their gains.
🔵Daily realized profits have declined sharply from $10.5 billion to $2.5 billion, signaling a weakening momentum. Currently, BTC is fluctuating between $100,000 and $89,800. If the $100,000 level holds, Bitcoin could rise to $105,000. However, failure to sustain this support might lead to a drop to $75,000, initiating a prolonged consolidation phase.