Bitcoin (BTC) is nearing a $2 trillion market cap and is less than 5% away from the $100,000 milestone. This surge comes after a 38% increase in the past month, reaching new highs in November.
However, the Average Directional Index (ADX) shows that BTC's trend is weakening, indicating possible consolidation or a slowdown.
The Net Unrealized Profit/Loss (NUPL) stands at 0.61, still below the 'Euphoria' zone, reflecting bullish sentiment without signaling an imminent strong correction.
Despite a slight correction, Bitcoin remains close to $100,000, with the trend's weakening potentially affecting this achievement. If momentum builds, Bitcoin could surpass $100,000 and reach $105,000. On the downside, failure to sustain the uptrend could see the price drop to $88,000.
