Bitcoin has rebounded by 36% from a low of $74,500 but faces resistance at $106,000, raising concerns about a potential price correction. Data indicates that over 97% of Bitcoin holders are now in profit, with only 2.8% holding losses when prices hovered around $102,000. This situation often signals corrections, as investors might sell to take profits. Additionally, Bitcoin derivatives open interest is high, nearing record levels, suggesting market exhaustion. If Bitcoin cannot sustain above $106,000, a pullback toward $93,000 could occur, as liquidity builds on the downside. A rejection from the $106,000 resistance similarly resulted in significant losses previously. Hence, market participants are wary as they monitor the situation closely for possible price movements.

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