📊 Bitcoin Market Update 📊
After reaching its all-time high of $99.4K, Bitcoin has been trading in a tight range between $92K and $98K over the past week.
Key Metrics to Watch:
💰 Daily Realized Profits
Current: $277M/day
Previous Peak (Nov 16): $481M/day
42% Decline in profit-taking activity indicates reduced selling pressure.
📈 What This Means:
The sharp drop in realized profits suggests the market has entered a consolidation phase, where buyers and sellers are reassessing their positions.
This could pave the way for the next significant price move—either a breakout or a pullback.
⚡ What’s Next?
📌 Traders: Be cautious with leverage during this consolidation.
📌 Investors: This phase could present opportunities to accumulate.
📌 Analysts: Watch for volume and trend confirmation to anticipate the next breakout direction.
Where do you see Bitcoin heading next—breaking past $100K or pulling back for another leg down? Let’s discuss!
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