Bitcoin Breaks All-Time High, Hints at Bullish Momentum

Recent data shows that Bitcoin has surged to a new all-time high of $120,000, defying predictions of volatility. Despite this price surge, the market remains relatively balanced, with profit-taking remaining moderate, as indicated by the Daily Realized Profit-Loss (P&L) Ratio staying near its historical average. This suggests that the market is currently exhibiting a healthier sentiment and reduced risk of sudden downturns, unlike previous cycles.