Bitcoin's on-chain activity has decreased, leading to investor skepticism and struggling to maintain momentum above $100,000. Analysts suggest that BTC may be overvalued at its current price level of $97,000. In contrast, gold continues to rise, reaching an all-time high of $2,882 per ounce and gaining 2.32% this week. The slow progress of the Trump administration's proposed BTC strategic reserve has also dampened sentiment. The upcoming U.S. nonfarm payrolls report is expected to impact the market, with a weaker report potentially boosting riskier assets like Bitcoin and stocks. Strong employment data combined with rising tariffs could lead to risk aversion and further weakness in BTC.



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