Bitcoin is facing challenges as it struggles to close above the $105,000 resistance level, with long-term holders opting to sell their positions. This has contributed to a decline in Bitcoin's price. However, there is potential for recovery as the Network Value to Transaction (NVT) Signal suggests Bitcoin is undervalued. Broader market conditions will need to align for Bitcoin to regain strength, but investors are not explicitly bearish at the moment. The price has fallen by 3.88% in the last 24 hours, but the next key support lies at $100,000. If Bitcoin can reclaim $105,000 as support, it could push towards its all-time high and invalidate the bearish outlook.



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