Bitcoin has surpassed the 105,000 USD mark, causing long-term holders to capitalize on their investments. This trend reflects a significant rise in realized profits, suggesting a responsive trading behavior among these holders.
The Long-Term Holder Spent Output Profit Ratio (LTH-SOPR) has notably increased, indicating higher profit margins for long-held coins. This profit-taking might suggest market corrections in the near future based on historical data.
Despite some selling pressure, a positive funding rate suggests strong demand for long positions among traders, indicating a bullish outlook. This sentiment could support further price increases for Bitcoin despite potential short-term declines.
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