
Bitcoin short-term holders are “likely taking on more risk” amid long-term holders “likely taking profits,” according to a crypto analyst.
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Six tried and tested on-chain metrics are repeating patterns last seen at the bottom of the past three bear markets.
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While demand for Bitcoin remains high, current profit-taking behavior suggests that the market may be on the verge of turning bearish.
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The current speculative trend and Ethereum’s price premium suggest that the altcoin’s price could more than double over the next 7 weeks.
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Bitcoin on-chain data reveals that speculators and long-term holders have become increasingly confident of higher prices as their selling activity has slowed down significantly.
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