Bitcoin Faces Uncertainty After Recent Highs

According to Odaily, Bitcoin recently reached a historic high of $112,000 before falling below $105,000, raising doubts about its ability to hit the $150,000 target by the end of the year. Technical analysis indicates a bearish divergence in the weekly RSI chart, similar to the cycle top in 2021, suggesting a potential correction of over 50% with a target price around $64,000. Veteran trader Peter Brandt has warned that Bitcoin must return to its parabolic trend line to avoid ending the current bull market cycle. However, some analysts remain optimistic, believing that if the on-chain indicators NUPL/MVRV ratio surpass 1.0, the price could reach the $150,000 to $175,000 range. Currently, Bitcoin is seeking direction near $105,000.