Bitcoin hodlers are once again realizing profits.
đ Bitfinex analysts report that long-term Bitcoin holders have resumed profit-taking, signaling potential short-term vulnerability for the cryptocurrency.$BTC
Despite trading below its March peak, Bitcoin's profit-taking levels are notable, albeit less extreme than previous highs. đ§
đ CryptoQuant data shows the SOPR indicator at a record 2.7 among these holders, historically preceding price corrections.
Bitfinex Alpha warns that while profit-taking in bullish markets is normal, the current scale raises concerns of short-term price pressure and potential medium-term market effects. đđĄ