$BTC
💰 Bitcoin Analysis: Will BTC break through the $90,000 resistance?
🕯 Despite Bitcoin hitting a record realized cap, the market remains cautious. The main reasons for this situation are the slow price growth, selling to take profits, and short-term holders being at a loss.
🔻 The realized profit and loss chart also shows that sales to take profits or prevent further losses have increased; an occurrence that typically happens before a market consolidation phase.
🔻 The realized price for short-term holders is around $91,600, but the current price is below this level, indicating that many are still at a loss. For Bitcoin to prove that it has entered a strong upward trend, it needs to break through the $90,000 threshold and this level.
