CandleFocus Here’s the First Moves of the Oldest Whales After Bitcoin Tops $100,000
2024-12-05
Author: Content Editor
Long-term Bitcoin holders are beginning to sell their coins and take profits as the price of BTC surpasses $100,000, according to data from CryptoQuant. The measure of profitability for coins sold by long-term investors has increased, indicating that these investors are making profits four times their original purchase price. However, this profit-taking is seen as a normal phenomenon during Bitcoin bull markets and does not indicate panic selling or a reversal of the market. The upcoming US employment report could also impact Bitcoin's trajectory, as a strong jobs report may strengthen the US dollar and put downward pressure on risk assets like Bitcoin.
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