Bitcoin’s ‘euphoric phase’ cools as $112K becomes the key BTC price level
Bitcoin shows signs of exhaustion with the recent drop to $107,000, but a break above $112,000 would likely confirm last week’s lows as the BTC price bottom.
Key takeaways:
Bitcoin dropped 14% from the $124,500 all-time high, which led to a drop in BTC supply in profit, signalling market exhaustion.
The $112,000-$116,000 supply zone must be overcome to start the next leg higher.