Cryptocurrency analysis company Alphractal has warned that Bitcoin may be approaching a local peak, with the BTC price potentially reaching around $111,000. Alphractal used the Cumulative Value Days Destroyed (CVDD) metric, which it considers the best indicator for finding price bottoms in Bitcoin, to identify the $111,000 level as the main resistance zone. The company's analysts stated that breaking this level would be positive for the market, but it could also continue to act as a top for some time. At the time of writing, Bitcoin is trading at $103,789 and has gained around 12% in the last week.



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