Bitcoin has been experiencing a consolidation phase near the $108K resistance level but faced selling pressure, leading to a 15% decline. The price found support around $90K and the middle boundary of a bullish price channel. If there is a rebound from this support, it could lead to an attempt to reclaim the $108K mark. However, a failure to hold it may result in a deeper correction with the next key support level at $75K. The Bitcoin Long-Term Holder SOPR metric indicates improving investor sentiment, with long-term holders no longer selling at a loss and realizing profits. This suggests sustained confidence and the potential for further market expansion.



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