🚀 Bitcoin enthusiasts, buckle up! Despite the common belief that HODLers never sell, they actually do, and right now, they're applying the brakes on Bitcoin's price surge. Since November 20, Bitcoin has been cruising between $92K and $98K, just shy of that elusive $100K milestone.
On-chain analyst James Check likens the market to a car, with demand as the accelerator and sell-side pressure as the brakes. While demand is full throttle, long-term holders are keeping the brakes steady, preventing a price breakout.
Glassnode reports a 42% drop in daily realized profits, signaling a consolidation phase. As Bitcoin retests lower highs, analysts remain optimistic about reclaiming the $96,400 support. Keep your eyes on the road, Bitcoiners! 🌟