🚨 Bitcoin Price Update: Is the Rally Losing Steam? 🚨
Bitcoin (BTC) has dipped slightly from its recent peak of $93,495, now trading at $92,428 as long-term holders lock in their profits. Here's what's happening in the market:
📊 Profit-Taking by Long-Term Holders
Data shows that Bitcoin's long-term holders (LTHs)—those holding for over 155 days—sold $3 billion worth of BTC in a single day, the highest sell-off since June 26.
This activity is reflected in the Hodler Net Position Change, which hit a 5-month low this week, signaling reduced accumulation by these holders.
💰 Are Transactions Too Profitable to Ignore?
The Profit-to-Loss ratio for BTC transactions is at 2.01, meaning for every loss-making transaction, there are over two profitable ones. Traders are capitalizing on this, increasing sell pressure.
BTC’s Market Value to Realized Value (MVRV) ratio is at 182.06%, indicating that the coin might be overvalued. On average, holders could realize 182% profit if they sold now, driving more to cash out.
🔮 What’s Next for Bitcoin?
1️⃣ If Selling Continues: BTC could fall below $90,000, with major support near $83,983 based on Fibonacci Retracement levels.
2️⃣ If Demand Rises: A rebound could push BTC back to its $93,495 peak and beyond.
⚠️ Market Sentiment Alert: The current mood of “extreme greed” suggests caution, as it often precedes reversals.
Will Bitcoin break through its highs, or is this the start of a correction? Share your thoughts below!
