Bitcoin’s Pause at $120K: Profit-Taking Meets Altcoin Season

Bitcoin’s rally has hit a wall near $120,000, stalling as traders cash in profits and shift focus to surging altcoins. The king of crypto now faces a critical test—will it break higher or succumb to a deeper pullback?

Why Bitcoin’s Stalling

• Realized profits hit 7-month highs (massive profit-taking)
• Velocity spikes to 4-month peak (short-term trading dominates)
• Sell pressure outweighs new demand
• Altcoin rotation siphons off capital

What the Metrics Reveal

📉 Bearish Signals:

• Long-term holders locking in gains
• Lack of fresh institutional inflows
• $120K resistance holding strong

📈 Bullish Counterpoints:

• Still strong trading volume
• No mass exodus from ETFs
• Historical patterns favor consolidation before next leg up

Price Scenarios to Watch

1️⃣ Sideways Churn ($117K-$120K): Most likely short-term outcome
2️⃣ Breakdown Risk: Drop below $115K could target $110K
3️⃣ Surprise Breakout: Needs institutional buying resurgence