BTC profit-taking don daku as $80K still hold; $82.7K high
Bitcoin (BTC) don reclaim di $80,000 level and e briefly reach four-month high near $82,751 on May 6, despite heavy profit-taking. Santiment report say net realized profits na $207.56M on Sunday, dia strongest single-day reading for about one month, after holders wey buy for much lower prices bring coins market.
Traders read di on-chain data as absorption no be exhaustion. Di profit spike coincide with steady climb and BTC break through long-rejected supply zone around $80,000. Santiment’s Network Realized Profit/Loss con turn strong positive since early April, suggest say older holders fit distribute into strength while new demand dey absorb di sell pressure—this one support di current breakout.
Trading takeaway: di $80,000 area dey strong now as support floor. If BTC pull back, di article flag possible dip zones around $79,000–$78,000, but rising realized profits fit also become distribution signal from newer investors. Follow-through matter whether BTC fit extend higher or fail after di next wave of profit-taking.
Bullish
BTC uptrend fit still knack break through an hold around $80,000 even as realized profits dey rise — e dey show say na selling pressure dem absorb, no be say price don tire. Strong positive move for on-chain realized profit indicators, plus di story say "distribution dey happen during rise, but new demand still dey pick am up", usually help form thicker support, so e dey raise chances say price go try climb again after short pullback.
Short-term, traders fit prefer see $80,000 as key defence level and dey look for buy-side signals around di 79,000–78,000 retracement area. Mid-to-long term, if BTC still strong when realized profits rise again next round, e mean supply-demand structure still bullish; but if realized profits rise while pullbacks widen or price no fit hold important moving averages/zones, e fit signal say distribution don shift from "absorption" to "distribution/outflow", and dat go weaken di bullish case.