CryptoQuant: Bitcoin may continue to see profit-taking, and the "bear market rally" is not over yet
Odaily reported that the on-chain analytics firm CryptoQuant stated that with the recent price surge, profit-taking in the Bitcoin market may further increase.
Data shows that Bitcoin has risen over 20% since early April, but the firm still defines this rally as a "bear market rebound." Currently, the short-term holder profitability indicator remains above 1, indicating the market has been in a steady profit realization phase since mid-April.
The analysis suggests that although selling pressure is rising, a price correction may still take time to emerge.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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