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Bitcoin Holders Realize Profits With its value hovering just above $40,000, the market is facing notable sell pressure, driven in part by GBTC outflows and an intriguing profit-taking trend. This trend depicts both long-term and short-term holders engaging in profit-taking at levels not seen in years. Since October 20, 2023, daily profit-taking has become a consistent feature, resembling the pattern observed during the bullish period from September 2020 to January 2021. As Bitcoin's price surged, profit-taking followed suit, with minimal realized losses. This phenomenon is intensifying. On January 18, the market witnessed a remarkable $900 million in profit-taking, highlighting investors' inclination to capitalize on their gains. This trend comes amid Bitcoin's impressive ascent from $25,000 to $49,000 in January 2024, underscoring the significant role of profit-taking in shaping the cryptocurrency's price trends.

Bitcoin Holders Realize Profits

With its value hovering just above $40,000, the market is facing notable sell pressure, driven in part by GBTC outflows and an intriguing profit-taking trend. This trend depicts both long-term and short-term holders engaging in profit-taking at levels not seen in years.

Since October 20, 2023, daily profit-taking has become a consistent feature, resembling the pattern observed during the bullish period from September 2020 to January 2021. As Bitcoin's price surged, profit-taking followed suit, with minimal realized losses.

This phenomenon is intensifying. On January 18, the market witnessed a remarkable $900 million in profit-taking, highlighting investors' inclination to capitalize on their gains.

This trend comes amid Bitcoin's impressive ascent from $25,000 to $49,000 in January 2024, underscoring the significant role of profit-taking in shaping the cryptocurrency's price trends.

Disclaimer: Includes third-party opinions. No financial advice. See T&Cs.
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