CryptoQuant analyst Axel Adler Jr. has identified $107,600 as a crucial support level for Bitcoin, with the current monthly price at $110,700. This level is slightly above the short-term holder realized price, indicating a key support in the ongoing bull market. The current price is also well above the overall realized price of $52,800 and the long-term holder realized price of $35,600, reinforcing a structural upward trend. The NUPL indicator, currently at 0.53, points to widespread profit-taking, though it has not yet reached extreme levels seen in previous cycles. While higher timeframes remain bullish, the market is in a correction phase and sensitive to profit-taking. Maintaining the short-term holder realized price of $107,600 is crucial for sustaining the uptrend, with the NUPL suggesting potential for further gains after consolidation.