Bitcoin seller exhaustion 'likely' as trader eyes $115K BTC price dip
Main Idea
Bitcoin's price consolidation suggests a potential dip to $115K, with market indicators pointing to seller exhaustion and a possible future price surge despite current cooling profitability metrics.
Key Points
1. Bitcoin's profitability metrics have cooled, but realized profits still outweigh losses, indicating a market recalibration after recent all-time highs.
2. Market conditions reflect a 'healthy yet fragile balance,' with seller exhaustion likely, suggesting potential for another price increase.
3. Traders are eyeing $115,000 as a key liquidity level for a potential BTC price dip, with significant liquidity clusters below the current range.
4. Liquidity analysis highlights $118,000 as an important low-timeframe level due to high trading volume in that range.
5. Despite consolidation, Bitcoin's long-term bullish potential remains, with the market adopting a more measured stance amid reduced bullish intensity.
Description
Bitcoin can still surpass all-time highs, but doubts surface over how quickly bulls can get past the latest sub-$120,000 consolidation phase.
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