#MyCOSTrade #ProfitPotential
🚨 $BTC Market Update: Whales are taking profits, the price is holding!
Recent data shows significant profit-taking by Bitcoin “big whales” who bought coins a decade ago! 🐋💰
Analyst Willy Woo notes that whales with over 10,000 $BTC have been selling since 2017, reducing their holdings by 40%. Glassnode confirms that the recent price record led to a “noticeable increase in profit-taking”, with only 8% of trading days being more profitable.
——————————————————————————
What does this mean for us?
- Selling pressure: Whales’ profit-taking is creating selling pressure in the market.
- Volatility: As we saw in our previous analysis, this leads to a decline in the MACD and RSI, as well as a decrease in trading volume, indicating caution.
——————————————————————————
$BTC Price:
Despite this, Bitcoin has shown resilience, holding above $105,000! This is the longest period in history when BTC has held above the six-digit mark (27 days).
What to do?
Stay alert! Even if whales lock in profits, the long-term prospects for BTC remain strong. Remember to manage risk and watch key support levels.
