Bitcoin Price Fall 7% Below $115K Because Dem Profit-Taking $3.5B
Bitcoin price drop pass 7% reach under $115,000 after traders waka earn $3.5 billion profit over weekend talk, Glassnode talk. Saturday $3.3 billion profit-taking na get wahala day wey never happen since July. Dis down wey happen na after dem reach all-time high $124,000 earlier for August. Four new high for 2025 see correction reduce from 30% for January to 8% now. Profit-taking dey almost steady since Bitcoin price rise from $90,000 beginning of year. Low of $76,000 for April cause fresh sell. The latest pullback show say market dey get strong pass before even with short-term wahala.
Bearish
Di sharp drop wey Bitcoin price drop comot under $115,000 na show say people dey collect profit sharply wey historically dey cause short-term sell pressure. Weekend dem record $3.5 billion for realised gains just like mid-July sell-offs wey dey come before small retracements. Even though corrections don dey gradually small this year—from 30% January reach 8% now—the immediate result still dey bearish as traders fit dey expect small pullbacks again. For long term, the trend of small retracements plus steady volume dey show say base get strength. But until dem stop to collect profit, market mind still dey cautious. Traders fit dey look for support near old low around $110,000 before dem enter position again, wey mean say the bullish confidence no too strong.