Bitcoin faces $904M profit-driven pullback – Ca

Bitcoin faces $904M profit-driven pullback – Can BTC’s rally survive?

As the Bitcoin uptrend continues, newer coins are aggressively selling while older ones take a step back.

Bitcoin investors who have held BTC for 6>12 months sell BTC worth $904 million.

Newer coins cause selling pressure, resulting in a BTC pullback.

Over the past month, Bitcoin [BTC] has continued to trade in an ascending channel; thus, many holders, both STHs and LTHs, have enjoyed significant profit.

Amid this price surge, at least 98% of all holders are currently sitting in profit, resulting in higher profit realization.