Bitcoin's price has experienced significant fluctuations, declining from its all-time high to a recent low. This drop in price is attributed to a decrease in short-term demand by key investors, leading to bearish pressure. The Realized Cap by Age metric reveals a concerning trend in Bitcoin's demand, with short-term inflows into the market diminishing. This lack of new capital inflows reflects growing skepticism and contributes to Bitcoin's struggle to maintain support above key levels. Exchange volume momentum is also showing sustained weakness, signaling a decrease in capital inflows. Short-term holders are pulling back, adding to concerns about Bitcoin's ability to recover in the short term. The cryptocurrency currently faces challenges in sustaining its momentum and could potentially experience further drops. However, if Bitcoin is able to breach resistance levels and reclaim $100,000, it could invalidate the current bearish outlook and reignite investor optimism.



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