Bitcoin’s current price is around $106,000, showing a recovery of 3% from recent lows. However, it faces resistance in the $106,000-$108,000 zone, prompting concerns about a potential price drop. Market analysis from Glassnode indicates a decline in buying momentum, suggesting a possible local top. The rising number of profit-taking investors is another warning signal, as 96% of Bitcoin holders are currently in profit, often seen as a precursor to market corrections. Technical indicators show that if Bitcoin fails to maintain support at $106,000, it could trigger sell-offs and liquidations that may push the price down further, possibly towards the $100,000 level. This creates a precarious environment for investors, as traders may choose to lock in gains rather than increase their positions as the price battles significant selling pressure in this resistance zone.

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