Bitcoin has undergone a spectacular price surge, rising from below $70,000 to nearly $100,000 after the US election. However, BTC was rejected at $99,000 and has dropped more than $6,000 in the past few hours.

- Analysts from CryptoQuant warn of a potential price correction as short-term investors (STH) take profits when prices increase by 40-50% compared to the dollar.

- The Fear and Greed Index indicates that the market is at a 'greed' level, often signaling a local peak.

Despite the potential for short-term price declines, on-chain indicators such as MVRV, NUPL, and Puell Multiple still show that the bull market remains active. 🐂

Meanwhile, 'whales' continue to buy BTC, with 5 new wallets withdrawing 886 BTC from Binance. MicroStrategy has also purchased nearly $5.5 billion worth of BTC. 🚀