Bitcoin's Average Profitability Index is at 202%, indicating strong market sentiment and potential for further price appreciation.
If the Index surpasses 300%, it may trigger profit-taking and selling pressure, potentially leading to a correction event.
The current market sentiment suggests that while selling pressure may increase, a drastic downturn is unlikely due to relatively low average profitability.
Bitcoin's ability to hold above the $66,000 support level will determine its next price movement, with potential for a breakout above $70,000 if successful.