Bitcoin remains above $105,000, but the market mood is shifting. Behind the price, something familiar is happening: major players are locking in profits, and that’s often when things start to get interesting.
Too much euphoria comes at a cost
A key on-chain indicator has just crossed two standard deviations above average. In other words, the market is euphoric. That’s not always a bad sign, but historically, it’s been the calm before the pullback.
Three warning signs in two days
In less than 48 hours, realized profits spiked above $500 million per hour on three separate occasions. This isn’t just people taking gains. It’s a clear signal that selling pressure is quietly building.
Price zones to keep on your radar
Bitcoin is currently hovering just below $106,000. If it breaks through, $108,000 could be next. However, if it slips below $105,000, the price may fall toward $102,000 or even test the psychological support at $100,000.
What matters now
Despite short-term uncertainty, the long-term picture remains solid. Exchange netflows are still negative, meaning coins are moving out rather than in. That suggests ongoing accumulation. Still, in the short term, the market is on edge.
And that’s often when the best setups appear not in the noise, but in the waiting.
