Profits surge, profit-taking pressure increases
Bitcoin is currently in a low volatility phase but still maintains a stable price range around 105,000 USD.
However, chain data shows that unrealized profits have exceeded +2 standard deviations (SD) — a warning sign of excessive bullish sentiment.
In the past, every time this index rose high like this, the market often witnessed short-term bullish waves, followed by a strong correction.
In particular, actual profits recorded an increase of over 500 million USD/hour in the past 48 hours, indicating that many investors have begun to take profits, preparing for a correction.
BTC price is in a tug-of-war
At the moment, Bitcoin is trading around 105,435 USD, holding steady above the support level of 105,000 USD.
However, BTC still faces resistance at the level of 106,265 USD. The RSI (relative strength index) remains above 50, indicating that the upward momentum has not been broken.
If it can overcome this resistance level, Bitcoin may approach the area of 108,000 USD. But this will only happen if market sentiment continues to be positive.
Worst-case scenario: deep correction if the support level is lost
In the event that investor sentiment turns negative and selling pressure continues to increase, Bitcoin could easily lose the support level of 105,000 USD.
If this happens, prices could plummet to around 102,734 USD or lower, breaking the current bullish structure.
At that point, the short-term upward trend will be negated, giving way to a stronger correction in the market.