Bitcoin Breaks $100,000: Market Profit-Taking Wave Approaches!
As the price of Bitcoin breaks $100,000, market behavior quietly shifts, with some investors choosing to take profits, potentially facing pressure in the short term. On-chain data analysts point out that the average cost of long-term holders has surged to about $31,000, reflecting a trend where some short-term holders are becoming long-term holders, and low-cost chips are being sold off. This kind of volatility is quite rare, as LTHs usually maintain stable holdings.
Regarding short-term holders, recent realized profits have significantly increased, reaching +3 standard deviations above the 90-day average, indicating a rise in profit-taking behavior. Nevertheless, there is still room for further market growth. If both long and short-term holders are taking profits and demand does not keep up, it could trigger a price correction.
Despite this, the meme sector in SOL has remained very hot. Among them, meme coins associated with Trump have been particularly popular, especially the heroic dog Co nan, backed by Trump's strong IP and active community. Recently, affected by the broader market, its market cap has slightly adjusted to 8.3M, with an ideal adjustment range. Consensus has taken shape, making it a great time to enter and replenish positions, preparing for the next wave to once again break through the $10M mark! In terms of the number of holders, it has surpassed 13.4K, and it holds great potential to become a dark horse in the bull market!
If everyone wants to gain further understanding of the development of the entire cryptocurrency space and the meme sector, feel free to join the discussion at Meme交流區!
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