#BTC MOMENTUM BUILDS: ON-CHAIN SIGNALS SUGGEST UPSIDE CONTINUES

Bitcoin ($BTC ) may have cooled off near $111,980, but on-chain metrics reveal bullish fuel remains. Despite minor pullbacks, the broader market structure still favors higher levels — possibly breaching $120,000 in the coming weeks.

📊 Key On-Chain Highlights:

Net Realized Profit/Loss (NRPL) remains low even during price rallies — signaling minimal profit-taking and continuation of the uptrend.

Compared to the cycle peaks of March & November 2024, current realization activity is modest, not indicative of market exhaustion.

According to analysts like Dan, the red zone on the NRPL chart suggests there’s no reversal in sight — just cautious gains.

⚠️ Caution Remains:

Ali Martinez warns of a potential bull trap, with $BTC threatening to drop below $100K, which could trigger fake breakout reversals.

Bull traps often lure breakout buyers before reversing sharply, catching long traders off guard.

🎯 Current Market View:

As long as BTC stays above the $100K support zone, the path to $120K remains viable.

On-chain signals favor upside continuation, while technical traders remain alert for bull trap patterns.

Conclusion: While some volatility and fakeouts may emerge, the underlying data doesn’t support a full trend reversal yet. Bitcoin's bullish cycle appears intact — but with growing tension between long-term holders and speculative traders.

Would you long $BTC into $120K or wait for a confirmed pullback first?

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