Bitcoin is currently at a critical point, with key metrics suggesting a potential shift in momentum and profitability. Glassnode highlights that Bitcoin's STH-SOPR (7D SMA) is testing the breakeven level of 1.0, which historically confirms a change in momentum when broken. However, the STH-SOPR Multiple indicates that short-term holders have been experiencing losses recently. As a result, there is a possibility of rejection at 1.0. If Bitcoin's STH-SOPR breaks above 1.0, it would signal a shift towards profitability. Meanwhile, Bitcoin's price has decreased slightly, and the broader crypto market is down due to profit-taking and macroeconomic concerns. Investors are awaiting economic data releases this week, including GDP growth rate and the personal consumption expenditure index, which could impact the Fed's rate-cutting decisions.



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