Bitcoin price continues to rise, nearing the $100,000 mark. However, profit-taking may occur when the price peaks.
The short-term SOPR index measures profits from Bitcoin held for 1 hour to under 155 days. When this index reaches 1.02, price corrections usually follow.
Currently, the 30-day average short-term SOPR index has reached 1.02, indicating the possibility of a short-term correction for Bitcoin. But if capital inflows continue and investors remain interested, Bitcoin could break through the $100,000 mark.
If there is a correction, this could be a good opportunity for new investors to enter the market.