Bitcoin Holds Strong Above Monthly Support Level
Bitcoin is proving its resilience. Trading at $110.7K, BTC is holding firm above the $107.6K Short-Term Holder (STH) Realized Price—a key monthly bull support level. This zone has become the focal point of the current market phase, separating healthy profit-taking from potential trend reversal.
Profit-Taking, Not Euphoria—What NUPL Indicates
The market is in a profit zone, but not a mania.
- NUPL (Net Unrealized Profit/Loss): 0.53
- >0.50 = Broad market profitability
- <0.75 = Not yet euphoric (unlike 2021’s 0.90+ peaks)
This suggests:
- Investors are taking profits, not FOMO-ing into new positions
- Sentiment is confident but cautious
- Room for further upside remains—this is not a cycle top
Historically, NUPL levels above 0.75 signal exuberance and potential reversals. At 0.53, the market is still in mid-cycle consolidation, not late-stage blow-off.
Uptrend Continuation Scenario Still Intact
The big picture remains bullish, despite short-term corrections.
- Key Support: $107K STH Realized Price
- Acts as a magnet for dip buyers
- A break below could trigger deeper correction
- Holding above confirms bullish structure
- Current Phase: Corrective / Consolidative
- Market is “repairing” after rapid ascent
- Volatility is expected around key psychological and on-chain levels
- On-Chain Confirmation:
- Overall Realized Price: $52.8K → BTC is +110% above cost basis
- LTH Realized Price: $35.6K → Long-term holders are deeply in profit
This combination confirms that the foundation of the bull market is strong.
Final Takeaway: Bitcoin Is Healthy, Not Tired
- ✅ Holding above $107K — critical support intact
- ✅ NUPL at 0.53 — profit-taking, not panic or euphoria
- ✅ LTHs and STHs in profit — broad-based confidence
While short-term volatility may persist,
the absence of mania and the defense of key levels suggest the bull market is still in motion.
And if $107K holds?
The next leg up could begin at any moment.
