Bitcoin bull market 'great validator' comes as James Wynn loses $100M

Key points:

• Bitcoin profit-taking is in full swing, but this can end up sustaining the bull market, Santiment research argued.

• Coins are spending increasingly less time in wallets, but the market is not suffering from “short-term speculation.”

• One whale unable to take profits was Hyperliquid’s James Wynn, liquidated for $99 million.

Bitcoin (BTC) should enjoy continued upside despite hodlers taking profits on their holdings, new research said.