Bitcoin hit a new all-time high of $111,814 on May 22, but has since dropped to $103,000, leading to concerns among traders.
Technical indicators suggest a possible cooldown phase, with the market showing signs of volatility and uncertainty.
Analysts point out red flags such as consecutive sell signals, hinting at a potential short-term top and profit-taking.
Opinions are divided, with some predicting Bitcoin to reach $120,000 or $150,000, while others anticipate a pullback towards $92,000 to alleviate overbought conditions.