Long-term Profit-Taking Dey Show Say Bitcoin Bull Run Fit Never Finish
Bitcoin recent rally reach pass $124,000 before e drop small by 10% go about $115,400. Data from CryptoQuant show say long-term holders (LTHs) dey take profit for moderate level, no be like those big sharp rise wey e happen before for 2017 and 2021. The LTH realized profit and loss (RPL) metric don always show when bull market go finish and when bear market go touch ground. Before wey market fall, LTHs either sell big for top or sell in panic for bottom. Now, the way dem take small profit small show say the Bitcoin bull run still dey for late stage, and fit still go up if dem no sell quick quick. Traders suppose dey watch LTH RPL well as early warning for cycle top. Market still dey collect ground for below the all-time high and slow profit taking mean say market stand neutral, but more gains fit show if LTH no do big sell-off.
Neutral
Di on-chain profit and loss trend wey long-term holders dey make don prove say e dey reliable to identify Bitcoin cycle highs and lows. For 2017, quick spikes for LTH profit-taking con coincide with one peak wey pass $19,000, and for 2021, slow but steady selling mark the top near $69,000. Today, moderate profit realization sharp kpata kpata wit past cycle-term peaks, e dey suggest say although make person dey cautious, di bull run fit still get momentum. Except LTH dem boost selling—wey go mirror historical top signals—di market remain neutral to mild bullish. For short term, traders suppose dey look out for green spikes for RPL metric as early warning say selling pressure don rise. For long term, steady moderate behavior from institutions and whales fit support more price appreciation and longer consolidation phases.