Bitcoin's price has reached an all-time high of $104,087 but is struggling to break past the $100,000 barrier. The market sentiment is marked by high risk, with the NUPL metric indicating extreme unrealized profit and potential market euphoria. High NUPL levels are often followed by significant corrections. Realized profits have been declining, showing a cautious outlook among investors. Bitcoin's price is currently range-bound between $100,000 and $89,800, with volatility expected to continue. If BTC can establish $100,000 as a support level, it could trend higher. However, failure to hold $89,800 support could lead to a significant drop in price, possibly testing $85,000 support. Bitcoin's ability to maintain the $100,000 level is crucial, as the risk of a correction remains high.



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