Bitcoin investors are increasingly taking profits as the leading cryptocurrency pauses its upward trajectory, currently hovering slightly above the $100,000 mark. In a post on X today, on-chain market analytics firm Glassnode warned of growing consolidation risks facing Bitcoin.

The world’s largest cryptocurrency by market capitalization has recently led a massive bull run across the crypto market, rising from a low of $93,000 to over $105,000 within the last seven days.

Although this impressive rally sparked a wave of new demand, analysts now say Bitcoin’s momentum is weakening.

Weak momentum buyers stall Bitcoin's growth

While the broader crypto market remains in a bullish phase, major cryptocurrencies have slowed their recent uptrend. Analysts attribute this to market sentiment shifting toward riskier levels.

According to data from CoinMarketCap, Bitcoin has retraced into the red over the past 24 hours, dropping by 3.10%. As of press time, Bitcoin is trading at $101,266.49, shedding some of its previous gains.

This price correction is largely due to increased profit-taking from existing holders and the inactivity of momentum buyers, who typically drive sustained price surges in crypto assets.

With momentum gradually weakening, strong selling pressure from profit-takers has outpaced the influence of new entrants in the market. As a result, Bitcoin has retraced back to nearly $100,000.

Although demand from first-time buyers remains robust, the asset’s short- to mid-term outlook remains uncertain. Its upward momentum has been hindered by low activity from momentum buyers, with Bitcoin’s momentum RSI currently at around 11, signaling a weak trend.

While there are no clear signals indicating the end of the current bull run, Bitcoin may face a period of consolidation as it struggles to sustain its rally in the face of persistent profit-taking.

However, Bitcoin’s First-Time Buyer RSI has remained at 100 all week, indicating continued interest from new market entrants. There is growing speculation that the bull run may resume soon, especially as institutional investors appear to be continuing their accumulation strategies.