Assessment of Bitcoin Value: BTC Shows Fragility After Achieving Record Peak

Bitcoin marked a new record this week, hitting $112K, surpassing its previous all-time high of $109K. While the currency exhibits a slight bullish trend, it also shows signs of consolidation in the short term. Despite the recent pullback towards the $109K level, Bitcoin's bullish sentiment remains strong, indicating the possibility of an upward trajectory towards $115K.

However, if the selling pressure intensifies, a deeper correction could occur, potentially retesting the $100K support level. Analysis of on-chain metrics reveals that long-term holders show no signs of significant profit realization, indicating an ongoing accumulation behavior and confidence in higher future valuations. This suggests that the current consolidation phase is likely driven by short-term holders and retail participants, rather than broader market distribution.

If long-term holders continue to display conviction, Bitcoin's upward trend may resume after this short-term pause.