“Bitcoin’s 50-Day Simple MOVING AVERAGE Crossed Above ITS 200-Day Averaage on May 22, Confirming the Golden Cross.”, – WRITE: www.coindesk.com
Holders have increasted their profit-taking Activity Since the Cryptocurrency’s Price Averses Flashed a Key Bullish Signal Two Weeks Ago.
BTC’s 50-Day Simple Moving AVERAGE (SMA) Crossed Above Its 200-Day SMA ON May 22, Confirming A Golden Cross-A TECHNICAL INDICAL INDICALING SIGNING BULLISH LONGING-TRIMENTUM, ACORMENTUM On the Same Day, Bitcoin’s Price Hit A Record High Above $ 111,000, Account to Coindesk Data.
Still, Holders Are IncreASINGLY Locking in Gains Rather than Holding for Further Upside, Accounting To-Chain Data Trained by Glassnode.
“Entity-Adjusted Realized Profit Spiked Above Above/Hour Three Times in The Past 24 Hours, Signaling Intence Profit-Taking Activity,” Glassnode SAID ON TUESDAY.
The entity-Adjusted Realized Profit Represents the Total USD Profit of All Coins That Have Been Moved OnChain, WHERE The PRICE at Their Last Movement is Lower.
Bitcoin: Entity-Adjusted Realized Profits. (Glassnode)
The Chart Shows of the Profit-Taking Activity Has Steadily Increated Since the Second Half of May, Topping The $ 500 Million Mark Several Times. That’s the most intens Profit Taking Operation Since Early February.
Other Metrics, Such As The Entity-Adjusted Spent Output Profit Ratio (Sopr), Suggest The Same. SOPR TRACKS The PROFIT Level of All Moved Coins During a Given Period. It’s Entity-Adjusted Version Discards Transactions Between Addresses of the Same Entity, Providing A Reliable Indicator of Real Economic Activity.
“The recent ath Breakout has led to a notable Uptick in Profits Locked In, with The AVERAGE CAPTURING A +16% PROFIT. FEWER THAR Into Profit-Taking Activity Is UnderWay, “Glassnode SAID IN ITS Weekly Report.
The report addted that profit-taking is still not as intense as Seen Durying Prior Major Price-Topping Patterns.
As of Writing, BTC Changed Hands at $ 105.600 Amid Reports of President Donald Trump’s Truth Social Platform MOVING A STEP CLOSER TO OFFERING A BITCOIN Exchange-Traded Fund.
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