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

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

by Ouess

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

Bitcoin Realized Profits. Source: Glassnode

What the Metrics Reveal

📉 Bearish Signals:

BTC Price Source : TradingView

  • 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

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