Bitcoin Surge Likely On-Chain Data Reveals

Bitcoin’s Bullish Momentum Likely to Continue, On-Chain Data Shows

• Bitcoin recently reached a new all-time high of $111,980.
• The Bitcoin Net Realized Profit/Loss (NRPL) chart suggests limited profit-taking, indicating a continued bullish trend.
• Current profit realization levels are lower compared to past cycle peaks in March and November 2024.
• Bitcoin is trading at $105,659, down 2.5% over the past 24 hours.

Despite recent price fluctuations, on-chain data indicates that Bitcoin’s upward momentum is likely to continue, with analysts predicting further gains beyond $120,000. Current profit-taking levels are relatively low compared to previous peaks.