$124K BTC Price Sparks Top Debate

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Bitcoin technical indicators are starting to show some signs of BTC price overheating, but onchain data suggests otherwise.

Bitcoin's new record high has traders asking: Did BTC price top at $124K?

Bitcoin hit a new all-time high of $124,450 on Thursday, and signs of overheating are starting to appear.

Several technical indicators suggest a potential top at $124,000.

Bitcoin recorded a new all-time high of $124,450 during the early Asian trading hours on Thursday. However, BTC price had pulled back to $121,670 at the time of writing.

Despite the correction, there were mixed signals about whether the price rally had peaked or whether it was a healthy pullback.

Onchain data: Bitcoin price hasn’t peaked yet
Bitcoin was not showing any signs of peaking despite reaching new all-time highs on Thursday, with several onchain metrics suggesting Bitcoin could rise further.

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