Movements on the Blockchain are once again showing signs of distribution and profit-taking.

According to The On-Chain CapFlow Sentiment Index, Bitcoin has re-entered a zone where blockchain activity indicates distribution signals. However, this trend could persist for several days, as observed in previous cycles.

Additionally, based on the SOPR metric, one of the largest profit-taking events in BTC's history is being observed, suggesting that many holders are seizing the opportunity to realize gains.

This trend may continue for some time, with metric adjustments expected in the coming months. The MVRV Z-Score and Long-Term Realized Cap Impulse suggest that Bitcoin’s uptrend is likely to persist, though corrections and metric reconfigurations are common along the way.

For the price to enter an extreme overbought zone, Bitcoin would need to reach at least $122k USD, according to the Alpha Price metric. This powerful tool estimates realized price regions with high accuracy.

In summary, we are witnessing significant profit-taking, especially by long-term holders, which could lead to corrections over time. However, it’s likely that the next all-time high will only occur when more sensitive metrics for peaks and troughs enter the extreme euphoria zone—something that may take several months to materialize.

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