According to analyst Willy Woo, this week is critical for Bitcoin as it may face consolidation. The price surge from 75,000 USD to around 112,000 USD might weaken if buying pressure doesn’t increase.
Woo highlights that profit-taking could affect Bitcoin’s price movement, as shown by the Spent Output Profit Ratio (SOPR). He notes that current conditions in the ‘pivot zone’ will influence Bitcoin’s price actions for the coming month.
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