🔍 Bitcoin at a Crossroads: Bulls vs Bears at $92.5K

Despite the recent price surge, we still haven’t seen significant on-chain shifts. Bitcoin is currently sitting right at the Short-Term Realized Price — a critical threshold around $92,500. Holding above this level is essential to trigger a shift in market sentiment.

This zone is highly sensitive, where bulls and bears will battle fiercely. Both the Short- and Long-Term Realized Cap Impulse are resting on support levels, which helps explain the recent price reaction. However, a few more days are needed to confirm whether on-chain behavior and risk appetite from key players are truly shifting.

Bulls will aim to push prices as high as possible, while bears will defend the zone just above $92.5K. This tension creates a complex environment ripe for forced liquidations, especially with Open Interest surging over $10B in just a few days — a clear sign the market is once again heavily leveraged.

Alphractal