According to data from CryptoQuant, bitcoin holders have realized 110,000 BTC in net profits since August 19. Profit-taking of this magnitude comes after a rally that pushed the price from less than 65,000 dollars to more than 82,000 dollars. Bitcoin is now around 80,000 dollars, while many indicators point to a slowdown in demand. Thus, the risk of correction increases; however, the overall trend is still not bearish.
$BTC
In summary
Bitcoin holders have realized 110000 BTC in net profits since August 19.
The daily peak of realized profits reached 23000 BTC on August 21.
Demand is slowing after the rally that took bitcoin above 82000 dollars.
American demand has weakened, with the Coinbase Premium returning to negative territory.
The 83000 dollars level is the main resistance to be overcome
#BTC #Bitcoin❗ #BinanceSquare
$BTC
In summary
Bitcoin holders have realized 110000 BTC in net profits since August 19.
The daily peak of realized profits reached 23000 BTC on August 21.
Demand is slowing after the rally that took bitcoin above 82000 dollars.
American demand has weakened, with the Coinbase Premium returning to negative territory.
The 83000 dollars level is the main resistance to be overcome
#BTC #Bitcoin❗ #BinanceSquare
