Bitcoin (BTC) Price Retraces From Recent Highs, Testing Demand Near the $100,000 Level

Bitcoin is trading just above the $100,000 level after pulling back from its recent high of $105K. While the retrace appears healthy, market sentiment is beginning to fracture.

Bitcoin (BTC) is testing demand at a key level as the market cools off following a strong multi-week rally that saw prices add over 40% since April 9th’s lows.

Following a surge that saw BTC set new highs at $105K, the market is now consolidating as investors await signs of continuation or a deeper pullback. For now, the structure remains bullish but volatility is to be expected.

Top analyst Axel Adler shared valuable on-chain insights via X, highlighting that Bitcoin is trading at around $100K while its realized price—an indicator of the average price at which all coins last moved—sits at approximately $45,000 and continues to rise.

This consistent upward movement in realized price suggests that the market is still in an accumulation phase and isn’t yet at an overheated point.

According to CryptoQuant, daily Realized Profit (RP) yield ranges from 0.10% to 0.23%, translating to an impressive 36–85% annualized yield. The 30-day simple moving average of RP yield sits around 0.10%, or 35–40% annualized, indicating sustained profit-taking but not yet at overheated levels.

Overall, these figures indicate a healthy market environment—profits are being realized, but not at levels that suggest excessive euphoria or speculative overheating.

Despite the bullish backdrop, opinions among analysts remain divided. Some anticipate a major breakout once BTC confirms support above $100K, setting up a continuation toward new highs.

However, other market participants believe that a correction is due to reset positioning and fatigue. They suggest that a deeper pullback below the psychological $100K mark, testing the strong $96K–$98K demand zone, might be unfolding.

Regardless of the short-term outlook, the current data signals that Bitcoin is remaining in a sustainable bull phase driven by organic demand and strengthening fundamentals. As long as BTC manages to hold above the $100K zone and realized metrics remain strong, the path toward new highs remains viable, even if short-term volatility persists.