Less Than 5% Away From Historic $100K
Bitcoin’s (BTC) market capitalization, now approaching $2 trillion, currently stands at $1.89 trillion, rising 38% over the past month and breaking through an all-time high in November. Expectations remain high as BTC price approaches the $100,000 milestone, with the price still less than 5% away from reaching that level.
While ADX indicates that the trend is weakening, NUPL indicates that BTC is moving away from the “excited” zone, reducing the likelihood of a sharp correction.
Bitcoin Trend Is Losing Momentum
Bitcoin ADX is currently at 17.4, reflecting a weaker trend compared to 26 two days ago. ADX (Average Directional Index) measures the strength of a trend on a scale from 0 to 100, but does not indicate its direction. Values above 25 indicate a strong trend, and values below 20 indicate a weak or no trend.
Bitcoin The current ADX shows that although it is still in an uptrend, the momentum driving it has weakened significantly, indicating a potential consolidation or a slowdown in the bullish movement.
Bitcoin NUPL is still far from euphoria
Bitcoin NUPL (Net Unrealized Profit/Loss) is currently at 0.61 and has been in the “Conviction – Denial” zone since October 14th. NUPL evaluates the ratio of unrealized profits to losses, providing insight into market sentiment.
This level indicates growing bullish confidence that holders can still profit, reflecting optimism for further price gains.
While BTC’s NUPL is 0.61, it is still below the 0.7 threshold, which signals entry into “euphoric” territory. Historically, entering the “euphoria” has tended to result in strong pullbacks as profit-taking accelerates.
Current location allows space bitcoin price Growth before reaching risk levels suggests the uptrend may continue without immediate overexpansion.
BTC Price Prediction: Is $100,000 Possible in November?
After minor adjustments in recent days, bitcoin price We are now less than 5% away from reaching the target historic milestone $100,000. ADX indicates that the current trend is losing strength, which may delay BTC’s approach to this key level.
However, NUPL said the market is still far from “euphoric” territory, suggesting a sharp correction is unlikely at this stage.
If the uptrend regains momentum, bitcoin price A break above $100,000 is possible and a test of $105,000 is possible in the short term. Conversely, if a downtrend develops, the price could drop to $88,000 before trying to push higher again.
Disclaimer
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