Bitcoin is currently experiencing a slowdown in market momentum following its recent all-time highs. Onchain analytics firm Glassnode notes that while profitability metrics are cooling, with a decline in the percentage of supply in profit, some potential for gains remains. The Realized Profit to Loss Ratio has decreased, indicating that while most investors remain profitable, a segment is starting to de-risk. This suggests a market recalibration amid reduced bullish momentum. Current market conditions are characterized as a healthy yet fragile balance, with seller exhaustion likely. Traders are focusing on a price dip around $115,000, identified as a significant liquidity point, which could serve as a support level. The short-term price range to watch is between $115K and $120K, as the longer the price hovers in this area, the more positions will build up, influencing future movements. Overall, the article emphasizes the importance of liquidity and the potential for further consolidation in the BTC market as investors adjust their strategies.

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