Long-term Bitcoin holders are gradually offloading their positions, and without a significant upward driver, the likelihood of a short-term price drop increases. On-chain data indicates critical support levels to monitor: the 0.95 SSD quantile at approximately $103.7k and the 0.85 SSD quantile at $95.6k, which could come into play if profit-taking persists.

woc-price-model.jpg