Bitcoin's recent price movements have cast doubt on its ability to reach the $150,000 mark by year-end. After hitting a record high of $112,000, Bitcoin has retreated to below $105,000. Technical indicators, including a bearish RSI divergence on the weekly chart, suggest a potential correction of over 50%, targeting around $64,000. Veteran trader Peter Brandt cautions that Bitcoin must return to its parabolic trend line to sustain the current bull market cycle. Despite these concerns, some analysts remain optimistic. They argue that if the on-chain NUPL/MVRV ratio surpasses 1.0, Bitcoin could still surge to the $150,000-$175,000 range. As of now, Bitcoin is seeking direction near the $105,000 level.