đ #Bitcoin(BTC) $BTC BTC Overview On-chain#analysisâ¶ïž more strategies on #Cryptoprofit đ„#HotTrends HotTrends
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Market makers can try to capture the huge liquidity pool of $50,000 to $49,000 but there is buying pressure from $BTC ETF that we have been seeing lately.
âïž đ#BTCâ short-term investors made big profits
Regarding this adjustment, if we look at SOPR, there has been a big move due to short-term holders who have held BTC for less than 5 months taking profits. On March 13, on-chain SOPR data showed a move that was considered profit-taking, similar to the peak of past bull markets. This kind of move only happens once every few years, but given the BTC spot ETF and potential additional inflows from institutions and individuals, it is difficult to judge it simply as a signal of a bull market peak. After a short-term correction period, it is highly likely that we will see a further strong bull run in 2024.
