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Figure Heloc 
With a third of Bitcoin held at a loss, onchain data suggested the market may be nearing a critical reset phase. Will BTC end the year above its range highs?
💡 DMK Insight
With Bitcoin at $102,099 and a third of holders in the red, we’re at a pivotal moment. This loss saturation could signal a reset, potentially leading to a price rebound if sentiment shifts. Historically, when a significant portion of holders are underwater, it often precedes a market recovery as those who can hold begin to accumulate. Traders should keep an eye on the $105,000 resistance level; a breakout could trigger a wave of buying, pushing BTC towards new highs. Conversely, if BTC fails to hold above $100,000, we might see further selling pressure as weak hands capitulate. Watch for volume spikes and on-chain metrics to gauge sentiment. If the market can flip the narrative and end the year above its range highs, it could set the stage for a bullish 2024. But if the losses deepen, expect volatility to increase, impacting correlated assets like Ethereum and altcoins.
📮 Takeaway
Monitor Bitcoin’s resistance at $105,000; a breakout could signal a strong bullish trend, while failure to hold $100,000 may lead to increased selling pressure.
