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

Bitcoin's price appears to have stabilized above its recent low of $108,650, supported by three key indicators suggesting a market bottom. First, the entity-adjusted dormancy flow has dropped below 250,000, a historical buy zone often preceding significant recoveries. This indicator recently fell to 133,300, indicating a potential for a bullish turnaround. Second, the short-term holder Net Unrealized Profit/Loss (NUPL) has turned negative, which typically signifies seller exhaustion during bear markets, allowing for renewed accumulation and stabilization in prices. Lastly, technical analysis shows a V-shaped recovery pattern emerging on the 12-hour chart and a double-bottom formation on the daily chart. The price could rise to test key resistances at $118,000 and $124,500 respectively. Analysts suggest that if BTC breaks the resistance between $112,000 and $114,000, it might rally towards $140,000. However, investors are advised to conduct their own research as the crypto market remains highly volatile and risky.

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