Bitcoin’s ‘euphoric phase’ cools as $112K becomes key BTC price level

Bitcoin shows signs of exhaustion with the recent drop to $107,000, but a break above $112,000 might confirm last week’s lows as the BTC price bottom.

Key takeaways:

Bitcoin has dropped 14% from its $124,500 all-time high, which led to a drop in BTC supply in profit, signalling market exhaustion.

The $112,000-$116,000 supply zone must be overcome to start the next leg higher.

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