Bitcoin’s bullish momentum accelerates but topping $78K remains a challenge

Bitcoin’s rally is accelerating, but 43% of holders are still at a loss, leading traders to favor put options. Will this week’s gains hold?

Key takeaways:

Derivatives and onchain data show a lack of bullish conviction, as 43% of Bitcoin holders remain at a loss despite recent price gains.

Surging AI energy demand is squeezing miner profits to record lows, forcing major listed firms to offload BTC and pivot to computing.

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