Bitcoin Profit-Taking at All-Time High – A Sign of an Approaching Sell-Off?

Profits soar, profit-taking pressure increases

Bitcoin is currently in a period of low volatility but still maintains a stable price range around $105,000 .

However, the series data shows that open interest has exceeded +2 standard deviations (SD) — a warning sign of excessive euphoria.

In the past, every time this index rose this high, the market often witnessed a short-term rally, followed by a sharp correction .

Notably, actual profits recorded an increase of more than 500 million USD/hour in the past 48 hours , showing that many investors have started to take profits , preparing for a correction.

BTC price is in a tug of war
At the moment, Bitcoin is trading around $105,435 , holding steady above the $105,000 support level .

However, BTC still faced resistance at $106,265 . The RSI (relative strength index) is still above 50 , indicating that the uptrend has not been broken.

If this resistance is overcome, Bitcoin could move closer to the $108,000 region . But this will only happen if market sentiment continues to be positive .

Bad scenario: deep correction if support level is lost
In case investor sentiment turns negative and selling pressure continues to increase , Bitcoin could completely lose the $105,000 support level .

If this happens, the price could plunge to the $102,734 area or lower , breaking the current bullish structure .

At that point, the short-term uptrend will be negated, giving way to a stronger correction in the market.