Bitcoin Holds Strong Above Monthly Support Level
Bitcoin holds above $107K support, signaling uptrend continuation. NUPL shows profit-taking but no euphoria yet.
- Bitcoin holds above the $107K STH Realized Price
- Market remains in a bullish but corrective phase
- NUPL suggests room for further upside in this cycle
Bitcoin continues to demonstrate strength on higher timeframes, trading at approximately $110.7K. The current price remains just above the Short-Term Holder (STH) Realized Price of $107.6K, which is a crucial monthly bull support level. Maintaining this zone is vital for the ongoing bullish structure to stay intact.
Despite market corrections and occasional profit-taking, the fact that Bitcoin’s price holds above this key support suggests resilience. The overall Realized Price stands at $52.8K, and the Long-Term Holder (LTH) Realized Price is at $35.6K. With BTC significantly above both, it confirms a strong structural uptrend that has yet to show signs of exhaustion.
Profit-Taking, Not Euphoria—What NUPL Indicates
The Net Unrealized Profit/Loss (NUPL) currently sits at 0.53, a level that indicates the market is in a broad profit regime. However, it remains below the euphoric peaks observed in previous bull cycles. This implies that while investors are in profit, the market has not yet entered a state of excessive optimism or mania.
This balance between profit-taking and continued investor confidence creates a healthy environment for potential consolidation followed by another leg up. Importantly, the absence of euphoric sentiment leaves room for further upside, as Bitcoin has not yet reached the psychological or technical limits seen in past bull market tops.
Uptrend Continuation Scenario Still Intact
The broader trend remains bullish, albeit in a repair phase, where the market becomes sensitive to profit-taking events. The key reference for this phase is the STH Realized Price ($107K). If Bitcoin continues to hold above this level, it will likely confirm the scenario of an ongoing uptrend with intermittent consolidation.
While short-term volatility may persist, especially around critical price zones, the technical and on-chain metrics point toward a continued bullish cycle, not a cycle top. Traders and investors should watch the $107K level closely, as its defense is essential for sustaining momentum.
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