Bitcoin is experiencing a consolidation phase as selling pressure nears exhaustion, according to a Glassnode report. On-chain data indicates that profitability is slowing, leading investors to adopt a more conservative stance. As sentiment cools, Bitcoin may enter a consolidation period, with traders eyeing a short-term support range between $115,000 and $120,000. Liquidity is notably gathering around the $115,000 mark, suggesting a potential pullback to this level.