🚀 $BTC Bitcoin Momentum Builds — On-Chain Signals Point to More Upside 📈
After hitting a fresh all-time high of $111,980, Bitcoin’s rally may still have legs, according to on-chain metrics — even as some caution a possible bull trap.
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📊 Key On-Chain Insight: Net Realized Profit/Loss (NRPL)
NRPL shows the balance of profit-taking vs. loss realization by holders.
Despite BTC’s price surge, profit-taking remains modest — highlighted by a low red box on the chart.
Historically, low NRPL during price increases suggests trend continuation, not exhaustion.
> 🧠 Analyst Dan says:
“Compared to cycle peaks in March and Nov 2024, the current profit realization is still minor — no signs of a full-blown top yet.”
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📉 But What About a Bull Trap?
Ali Martinez, a respected crypto analyst, warns of a potential bull trap.
A bull trap occurs when:
1. Price fakes a breakout above resistance.
2. Lures buyers in.
3. Then reverses sharply, trapping longs.
> Martinez cautions that a dip below $100,000 could invalidate the current rally — so watch that psychological level closely.
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🔮 Outlook:
On-chain data = 🔥 bullish momentum still intact
Caution = ⚠️ false breakout risk remains
Short-term BTC target (if trend holds): $120,000+
Key support to hold: $100,000
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🧩 Bottom Line:
Bitcoin is rallying with restraint — and that’s bullish.
Profit-taking is light, sentiment is heating, and the on-chain data supports further upside.
But in volatile cycles, even the strongest trend can fake out traders — stay sharp.
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