Bitcoin Network Sees Rising Profit-taking As BTC’s Price Shows Signs Of Weakness
2025-07-02 17:10:43
Main Idea
Bitcoin's price drop below $107,000 has triggered increased profit-taking among investors, with realized profits reaching $2.4 billion, while short-term holders are primarily responsible for this activity.
Key Points
1. Bitcoin's price fell below the $107,000 mark, leading to a bearish movement toward $105,000.
2. Realized profits from Bitcoin surged to $2.4 billion, with the 7-day SMA reaching $1.52 billion, above the YTD average but below late 2024 peaks.
3. Short-term holders are mainly driving the current wave of profit-taking.
4. The market's structural demand remains present, with potential support at key levels like $100,000 if profit-taking continues.
5. ETF allocations and demand at lower price bands could influence Bitcoin's price stability.
Description
After holding above the $107,000 price mark for several days, Bitcoin has finally lost this key range, triggering a bearish movement to the $105,000 threshold as Tuesday drew to a close. A recent report indicates that BTC’s sudden pullback is being met with a significant increase in profit-taking among investors. As Bitcoin Falters, Network Profit-Taking Surges Bitcoin’s recent upward momentum has slowed down a little due to waning market sentiment. Meanwhile, the Bitcoin network is seeing a sig...
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