CryptoQuant contributor Crazzyblockk has analyzed that the "profit-taking indicator for addresses (STHs) that have held Bitcoin for less than 155 days has recently declined significantly." This is likely due to BTC's rise to $108,000, followed by a pullback due to strong resistance at this level. Since a decrease in the profitability of BTC short-term holders typically indicates weakening market demand, suggesting a bearish market sentiment in the short to medium term, there is a higher chance of a price correction. During volatile periods like these, it is wise to reduce risk exposure.

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