Recent periods of BTC trading have shown that traders are capitalizing on market fluctuations, realizing an impressive 500 million USD in profits each hour. This behavior highlights a cautious approach to future price trends, as traders aim to lock in gains.
While short-term holders are taking profits, larger whale wallets continue to accumulate BTC. The current selling pressure appears to be shifting from whales to smaller wallets, showcasing a transformation in market dynamics.
The derivative market remains highly active, with open interest rising to 34 billion USD. This increase indicates that traders are preparing for potential volatility ahead. Overall, the market is showing resilience despite profit-taking activities recorded recently.
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