Bitcoin price surge to $35,000 triggers over $1.5B in profit-taking

2023-11-1 21:10

Quick Take

CryptoSlate’s recent data analysis reveals intriguing patterns in Bitcoin profit-taking behaviors amid volatile market conditions. The analysis showed that the Bitcoin price level of $35,000 has acted as a short-term resistance, with a surge in profit-taking around this point.

Specifically, on Oct. 24, over $1.5 billion of realized profit was reported, marking the second-highest profit-taking event this year. The only other higher instance occurred on May 7, coinciding with Bitcoin’s significant drop from $30,000 to $25,000.

Net Realized Profit/Loss: (Source: Glassnode)

The data further showed that a majority of this profit-taking was led by short-term holders, specifically those who purchased Bitcoin within the last 155 days when the price rose from $25,000 to $34,000.

Interestingly, profit-taking among long-term holders appeared to be minimal, accounting for a mere $100 million. This indicates a level of steadiness in the market amid shorter-term turbulence.

Long-term holder in profit to exchanges: (Source: Glassnode)

The post Bitcoin price surge to $35,000 triggers over $1.5B in profit-taking appeared first on CryptoSlate.

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bitcoin profit-taking analysis price surge level showed

Источник: cryptoslate.com

bitcoin profit-taking → Результатов: 96


Фото:

Bitcoin Seller Appetite Running Out? Profit-Taking Down 42% Since Top

On-chain data shows that Bitcoin investors’ profit-taking has observed a huge decline since last month’s top, a sign that could be positive for BTC. Bitcoin Realized Profit To Exchanges Now Down To $277 Million Per Day According to data from the on-chain analytics firm Glassnode, trader profit-taking in the Bitcoin market has cooled off significantly […]

2024-12-5 02:00


Bitcoin Retraces Back From $30,000 As Profit Taking Spikes

Bitcoin had surged above $30,000 earlier during the past day but has since observed a retrace as profit-taking from traders has spiked. Bitcoin Profit-Taking Volume Is Currently More Than Twice The Loss-Taking One Bitcoin showed some promising signs of breaking away from its stagnation earlier during the past 24-hour period, as the cryptocurrency’s price managed to make a sharp recovery towards the $30,000 mark.

2023-8-9 15:00


Bitcoin Could See Profit-Taking Pullback to Mid-$6K, CNBC ‘Experts’ Say

Panelists at CNBC say that Bitcoin price could be due for a pullback despite climbing more than 120 percent since the start of the year. Third Time’s the Charm for Bitcoin? After months of muted conversation around Bitcoin, CNBC analysts are now back in the saddle again, with cautiously bearish sentiments about BTC as the cryptocurrency continues to enjoy a positive trajectory in 2019.

2019-5-16 14:00


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