Analysts Warn of Potential Bitcoin Bubble Amid Market Heat

Bitcoin's price recently hit an all-time high of $99,655 but has since slightly retraced to around $98,200. Analyst Ali Martinez predicts a potential price correction, suggesting Bitcoin could fall to $85,610 if it doesn't close above $100,535 on the 12-hour chart. This prediction is based on the TD Sequential indicator and other metrics like the Relative Strength Index and Fear & Greed Index, which indicate overvaluation and potential for a pullback. Despite this, Bitcoin remains profitable for long-term holders with significant gains in recent months.