BTC Hits $111K — Too Hot to Handle?

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From a technical standpoint, Bitcoin is showing some signs of overheating, but onchain data suggests otherwise.

Bitcoin hit a new all-time high of $111,970 on May 22, but retraced to $110,700, with analysts noting mixed signals on market overheating.

Funding rates and other metrics suggest a “healthy upward phase.”

Bitcoin’s price recorded a new all-time high of $111,970  on May 22. However, BTC price retraced shortly after to trade at $110,700 at the time of writing.

Despite the correction, there are mixed signals about whether the price rally is overheated or whether this is a healthy pullback.

Bitcoin is not showing any signs of being overheated despite reaching new all-time highs this week, with several analysts pointing to fundamentals suggesting Bitcoin could rise further.


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