Bitcoin UTXO Profit Level Nears 99%, Indicating Market Strength

Bitcoin is trading just below $112,000, approximately 2.5% from its all-time high. This position suggests potential for an upward price movement following recent gains and consolidation above $100,000.

Key points include:

99% of BTC holdings are currently profitable, indicating market strength but also potential overheating risks.
Bitcoin maintains resilience amid macroeconomic pressures and geopolitical uncertainties, reinforcing its role as a risk asset and hedge.
Analyst insights highlight the importance of UTXOs in assessing unrealized profits; nearing 99% profitability could lead to profit-taking spikes.
Bitcoin's current price is $109,679, supported by key moving averages around $107,000–$108,000, maintaining bullish momentum.
A breakout above $112,000 could initiate further upward movement toward $120,000.

Market participants should monitor these developments closely as Bitcoin approaches critical resistance levels.