Bitcoin $124.45K All-Time High – Onchain Strength vs Technical Pullback
Bitcoin don jump reach Asian session high of $124,450 before e comot back to around $121,670. Onchain metrics still dey bullish: funding rates and short-term capital wey dey flow no reach previous peaks, and Spent Output Profit Ratio (SOPR) show say people never dey collect plenty profit. CoinGlass bull market indicators even talk say Bitcoin fit reach $187,000. But technical analysis dey warn say short-term pullback fit happen. Daily chart show 9th TD sell setup, bearish RSI divergence plus rising wedge – these na signals wey usually come before prices comot small for past rallies. Traders dey get mixed signs: onchain strength dey support more price rise, but RSI overbought levels and wedge patterns they dey tell make dem dey careful. Short-term traders suppose dey watch how RSI dey move back, how funding rates dey change, and main support levels for volatility chances. For long term, Bitcoin trend still strong because more institutions dey adopt am and money supply dey grow.
Neutral
Wen Bitcoin don reach im highest price plus e strong onchain metrics—like moderate funding rates and controlled Spent Output Profit Ratio—dem show say di bullish momentum still dey for ground, technical indicators still dey point to say short-term correction fit happen. Overbought RSI levels, di ninth TD sell setup plus rising wedge formation don usually come before dem pullback. So, traders fit expect say volatility go increase as market dey digest dis conflicting force. For long term, institution dem adoption dey grow and money supply dey expand, wey dey support more gains. Because of dis balance between bullish onchain fundamentals and bearish technical signals, di overall effect for Bitcoin price be neutral, wey dey give both upside potential plus pullback chances for traders.