So, some interesting news from Glassnode! 🚀 They predict that once Bitcoin (BTC) hits $100,000, many investors may take profits, which could cause the price to drop slightly. 📉
Currently, Bitcoin is trading around $98,000 and has just gained 4.1% in the last 24 hours. 💰 The Glassnode founders say that if Bitcoin hits $100,000, it could cause a rush of investors to sell to take profits. However, they believe that this sell-off won’t be as severe as when Bitcoin hit $73,000 in March. 🤔
They also note that long-term investors have started to reduce their positions since Bitcoin rose from $60,000. 🔍 This sell-off seems smaller than in previous periods, so there may be a change in investor behavior.
“Bitcoin has hit $97,000, but if it hits $100,000, there could be a lot of profit-taking. This sell-off is unlikely to cause panic. If we see the profit-taking indicator rising sharply, the price is likely to correct,” said Jan Happel and Yann Allemann. 💬
So, this is a good time for investors to reassess their strategy. 📊 Reaching the $100,000 target can be a pivotal moment in the market, so it is important to keep an eye on the market movement! 👀