Bitcoin has entered a phase of heightened volatility and uncertainty, with the market showing signs of indecision after weeks of strong momentum. The leading cryptocurrency continues to trade just below its all-time high near $126,000, with bulls and bears now locked in a battle to determine the next major move. Some analysts believe Bitcoin is preparing to break through resistance and enter price discovery, targeting new record highs. Others, however, warn of a potential short-term correction, arguing that market euphoria may have reached unsustainable levels.

According to onchain data, long-term holders have started taking profits, a behavior often seen during key inflection points in the market. While this wave of distribution has not yet reached extreme levels, it does highlight a gra

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