Did Bitcoin price bottom at $108K? 3 reasons that the worst is over

Bitcoin's price is currently trading above its recent low of $108,650, with three indicators suggesting this may be a local bottom. The entity-adjusted dormancy flow has fallen below 250,000, historically a 'buy zone' that precedes price recoveries. Concurrently, Bitcoin's short-term holder Net Unrealized Profit/Loss (NUPL) has turned negative, indicating seller exhaustion. Historically, such negative readings have marked local price bottoms after periods of market stress. Additionally, Bitcoin's price chart has formed a V-shaped pattern, signaling upward momentum that could push prices towards the $118,000 resistance and even towards all-time highs of $124,500. Analysts highlight that as selling pressure decreases, demand from long-term holders could stabilize prices and trigger fresh buying interest, particularly as Bitcoin enters a typically bullish period post-halving.

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