🔍 Analysis: LTH profit taking at #BTC $120K — a reason for caution?
📊 What's happening:
Long-term Bitcoin holders (LTH) have started taking profits at the $120,000 level — a historically significant psychological resistance. This is the first time since the beginning of the current cycle that they are transitioning to a net negative mode (i.e., selling more than buying).
📉 Galaxy Digital particularly stands out, having sold ~80,000 BTC — a volume that cannot be ignored. This is not retail panic but the actions of an institutional player.
⚖️ Key questions:
Is this a temporary profit taking or the beginning of a trend reversal?
Will other large holders join?
Will we see a redistribution of coins or the capitulation of major players?
📈 Conclusion:
Current profit taking is not critical but serves as an early warning. If other institutional sell-offs follow, it may increase price pressure and cause a correction. However, if supply is absorbed by demand (especially from ETFs and retail), the trend may remain bullish.
🧭 For traders and investors:
Short-term — high probability of a local correction or consolidation below $120K.
Medium-term — the trend remains bullish as long as institutional demand (ETFs, funds) compensates for LTH sales.
For the entire market — temporary dips are possible, especially in altcoins, if Bitcoin enters a correction phase.
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