Bitcoin Surpasses $81K, Raises Concerns about Sustained Price

Bitcoin's recent surge above $81,000 has sparked concerns about the sustainability of its price. According to data from Santiment, the cryptocurrency reached a cycle-high realized profit of $207.56 million in a single month, with many holders selling their coins at this level.

The Spent Output Profit Ratio (SOPR) is trending towards levels historically associated with local tops in prior cycles. This has led some analysts to warn that Bitcoin's price may be due for a correction, potentially even a 20-30% retracement before continuation.