Bitcoin Sees Profit-taking but Whales Continue Buying — Where is The Top? 🐋
Bitcoin's price surge to $90,000 has sparked a wave of profit-taking among investors, while big players, known as 'whales,' continue to accumulate more Bitcoin, expecting further upside. This mixed sentiment reflects the ongoing dynamics between short-term traders realizing profits and long-term holders strengthening their positions.
The increased price level of Bitcoin has also led to a significant rise in on-chain transaction volume, marking a new high not seen since the previous all-time high in March. This indicates heightened trading activity as investors reposition their strategies in light of recent market developments.
The co-existing trend of profit-taking and aggressive long buying has left many investors speculating about the potential peak of this bull market. Liquidity could play a crucial role in determining the longevity and sustainability of the current rally, as market participants navigate through changing sentiments and price levels.
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