According to Odaily Planet Daily, BitMEX stated in its "Alpha Minute" report that the market is currently experiencing high volatility and uncertainty, creating a challenging environment for traders. Previously, Bitcoin briefly decoupled from the gold price and broke through $113,000 amidst a sharp drop in gold prices, but the market quickly reversed, with the price falling back to around $107,000.

The report states that on-chain data shows an increase in the average holding period of recently spent Bitcoin, indicating that early adopters (OGs) are taking the opportunity to sell. As Bitcoin consolidates around the key psychological level of $100,000, these veteran investors appear to be actively de-risking.

Furthermore, a new market trend is emerging: some tech veterans are shifting funds from Bitcoin to the rising AI sector to capitalize on the AI boom. This persistent selling pressure is limiting Bitcoin's upside potential. BitMEX notes that if a breakout fails, this structure could lead to a further correction, with a drop below $100,000 potentially becoming a key step in a market shakeout.