Bitcoin's price remains bullish, recently surging 39% to briefly exceed $105,000, but signs suggest the market may be overheating. Profit-taking among traders has driven Bitcoin's realized cap to an all-time high of $889 billion. With over 3 million BTC back in profit, the trend indicates strong demand and rising capital inflows surpassing $1 billion daily. However, sentiment indicators show heightened euphoria, which historically precedes corrections. Concerns around renewed regulatory uncertainty and a potential downward trend in gold prices could pose risks for Bitcoin, which has increasingly correlated with gold instead of equities. Seasonal trends also raise flags as June and September are traditionally weak months for Bitcoin. Analysts suggest caution, warning that a correction could be imminent, but remain optimistic about Bitcoin's long-term future, citing ongoing accumulation by corporations and ETFs.

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