Bitcoin Breaks New Ground; Short-Term Investors Take Profits

Bitcoin closed out another week in positive territory, driven by strong institutional investment. However, the market’s short-term momentum appears to be weakening as indicated by a decline in active wallets. On-chain data suggests that investors are taking profits and stepping back, while slight declines in hashrate suggest miners are adjusting their strategies without affecting network security. Despite maintaining above $107,000, the market is showing signs of cooling down, and experts anticipate a period of consolidation before a potential peak later in the year.