Does history repeat itself $BTC

The last time this index reached this area was in April of last year

It was directly preceded by a significant and sustained increase

CBT analysis for market rebalancing under short-term pressure

Data on the chain shows that the Bitcoin market is currently going through a critical reset phase where the behaviors of new and old investors are colliding

This index confirms that short-term holders are currently facing unrealized pressures and losses. This represents a healthy correction that removes excessive speculative positions that have accumulated recently

In contrast, long-term investors are still selling at a profit with the index above 1, indicating that they are maintaining their confidence in the fundamentals and may be repositioning at new levels.

The technical reading finds support from the current demand area at $108,000. Technically, it requires overcoming the main resistance to build clear and confirmed upward momentum.

In short, historical indicators suggest that the current selling pressure from speculators represents a necessary accumulation phase. The market is watching to see whether this cleansing will establish a solid foundation for future price rebound or if volatility will continue until one of the critical technical levels is broken.