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>>Bitcoin Whales' Profit-Taking Activities Mark the 7th Surge in Activity Since 2024 — What's in Store

Bitcoin Whales' Profit-Taking Activities Mark the 7th Surge in Activity Since 2024 — What's in Store

crypthub

about 4 hours ago

Bitcoin's Bearish Structure and On-Chain Developments

Bitcoin remains in a bearish trend, struggling to break the $68,000 resistance. Recent on-chain data shows whales realized over $208 million in profits, marking the seventh such event in two years. This profit-taking often precedes market turbulence and local price bottoms. However, it can also signal near-term price exhaustion or strategic repositioning by large investors.

Historical Patterns and Market Implications

Historically, whale-driven profit-taking has led to temporary liquidity imbalances, followed by price stabilization. This stabilization often precedes bullish reversals, though exceptions exist where it coincided with local tops. MorenoDV notes that such behavior reflects conviction, as whales rarely sell impulsively. The current market may face turbulence but could be nearing a local exhaustion point rather than a bearish cycle start.

Current Price and Potential Outcomes

At $67,960, Bitcoin shows no significant 24-hour movement. Institutional or mid-sized holder accumulation could signal a healthy rotation and bullish momentum. Conversely, insufficient demand or continued selling may amplify downside pressure, pushing prices lower. The market's next move hinges on investor behavior and absorption of whale-driven supply.